44 DEBT—PUBLIC. [ART. 31

ARTICLE XXXI.

DEBT-PUBLIC.
State Building and Improvement Loan.

13. State building and improvement loan for $500, 000; particulars of such

loan.
14 Tax to pay interest and principal of such loan.

State Building and Improvement Loan.

1900, ch. 826. 1900, ch, 607.

13. For the purchase of a lot of land and the erection thereon
by the State of Maryland of a building in the city of Annapolis,
and for the further improvement and equipment of the. Maryland
penitentiary; and for the further improvement and furnishing of
the Springfield State hospital, a loan is hereby created to be
called the "State Building and Improvement Loan, " to the
amount of five hundred thousand dollars: The sum of two
hundred and ninety thousand dollars for a State building in
the city of Annapolis; one hundred and fifty thousand dollars
for the further improvement and equipment of the Maryland
penitentiary, and the sum of sixty thousand dollars for the
further improvement and furnishing of the Springfield State
hospital. The said loan hereby created shall in all its parts bear
date the first day of July, nineteen hundred, and shall bear
interest at a rate to be fixed by the Governor, the Comptroller
and Treasurer, or a majority of them, not to exceed three and
one half per centum per annum, payable on the first days of
January and July in each and every year, and the said loan and
every part thereof, and the interest payable thereon, shall be
and remain exempt from State, county and municipal taxation,
and the principal amount of said loan shall be payable fifteen
years after the date thereof, but shall be redeemable at the
pleasure of the State of Mainland after the first day of July,
ninteen hundred and ten.

Ibid.

14. The County Commissioners and the Mayor and City
Council of Baltimore city are directed to levy the State taxes
for the year 1900 at fifteen-sixteenths of one cent on each one