ART. 31] SEVERAL STATE LOANS. 983

interest and to create a sinking fund for the redemption of said
"Penitentiary Loan."

The Consolidated Loan of 1899.

1898, ch. 219, sec. 1 and ch. 220.

6. The principal of the consolidated loan of 1899 issued
under the act of 1898 chapter 219 amounting to $5,800,000,
bearing interest at the rate of three per cent, per annum, pay-
able on the first day of January and the first day of July in
each and every year, shall be redeemable at the pleasure of the
State after the first day of January, 1909, and shall be payable
on the first day of January, 1914, and said loan and every part
thereof and the interest thereon shall be and remain exempted
from all State, county and municipal taxation.

State Building and Improvement Loan.

1900, ch. 326. 1900, ch. 607.

7. The State building and improvement loan created by and
issued under the acts of 1900 chapter 326 and 1900 chapter
327 shall be payable fifteen years after the first day of July,
1900, the date thereof, but shall be redeemable at the pleasure
of the State after the first day of July, 1910, and shall be
exempt from all State, county and municipal taxation.

Ibid

8. 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 hundred
dollars, and for the year 1901 and annually thereafter twelve-
sixteenths of one cent on each one hundred dollars, to be
collected according to law, to meet the interest and to create a
sinking fund for the redemption of said " State Building and
Improvement Loan."

1902, ch. 200.

9. For the purpose of erecting an addition to the State
house in the city of Annapolis, for the removal and demolition
of the State library building and the annexes thereto, and for
the purchase of a lot of ground and the construction thereon
of a central plant for the heating of all the State buildings in
Annapolis and for the furnishing of said State buildings and
for the completion of the fifth regiment armory and the con-
struction of an annex to the Maryland house of correction, a loan