WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 371

	five of whom shall be elected by a majority of the
	private stockholders of said college in the manner
	now provided by law; provided that four of
	the five shall be residents of the State of Mary-	How consti-
	land, and one of the District of Columbia, and	tuted.
	the following six named persons shall represent
	the State's interest in said board, namely : The
	Governor, Comptroller, Treasurer, President of
	the Senate, Speaker of the House of Delegates,
	and Attorney General, and the United States
	Commissioner of Agriculture shall be ex-officio
	one of said board.
	SEC. 2. And be it enacted. That this act shall take	Effective.
	effect from 'the date of its passage.
	Approved April 10, 1880.

	CHAPTER 232.
	AN ACT to create a loan to provide for the ex-
	change or the redemption and payment of the
	debt of the State called " The Defence Loan,"
	issued under the act of eighteen hundred and
	sixty-eight, chapter two hundred and thirty-five.
	SECTION 1. Be it enacted by the General Assem-
	bly of Maryland, That a loan be and is hereby
	created, to be called " The Defence Redemption
	Loan," and certificates of debt and bonds in the
	name of the State of Maryland, to be signed
	by the Treasurer and countersigned by the Comp- troller, are hereby authorized to be issued to an	Loan created
	amount not to exceed three millions of dollars,
	bearing an interest not to exceed four and a half
	per centum per annum, payable semi-annually on
	the first day of January and the first day of July
	in each year, which said certificates of debt or
	bonds shall be redeemable in fourteen years from