JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 373

pay the accustomed dividends on the stock of the
State in the said Washington Branch Road ; and
whereas it is necessary, in order to relieve the State
Treasury from the effects of said several losses, to.
create a loan for that purpose, therefore,
SECTION 1. Be it enacted ly the General Assembly
of Maryland, That a loan be and is hereby created
to be called the treasury relief loan, and the Treas-	Loan created.
urer of the State is hereby authorized, and directed
to issue certificates of debt, or bonds of the State to
an amount not exceeding five hundred thousand	Not exceed-
dollars, to be countersigned by the Comptroller in	ing.
the name and on behalf of the State of Maryland,
which bonds or certificates shall bear interest at the	Shall bear in-
rate of six per centum per annum, payable semi-	terest.
annually, on the first day of January and the first
day of July in each year, and be redeemable at the	Redeemable.
pleasure of the State in not less than ten nor more
than fifteen years, and which said bonds or certifi-
cates shall be sold for not less than their par value,	Shall be sold.
exclusive of all commissions, and the proceeds passed
into the treasury to reimburse the same for the losses
which have so accrued thereto.
SEC. 2. And be it enacted, That a special tax of	Special tax.
one and one-half cents be and the same is hereby
laid on each and every one hundred dollars of the
taxable property of this State to meet the interest	To meet
and create a sinking fund for the redemption of the	interest and
bonds or certificates of debt herein directed to be	create sinki'g
issued, and the said tax shall be annually levied,	fund.
collected and paid over to the State Treasurer until
the debt created by this act shall have been paid,
and a distinct and separate account shall be kept	Separate ac-
thereof, and the proceeds thereof are hereby pledged	count shall be kept.
to the payment of the interest and principal of the said bonds and certificates of debt, and for that pur-
pose so much thereof as may be necessary shall be
applied to the payment of the interest upon said
bonds or certificates of debt, and the balance in-	Balance in-
vested by the Treasurer in such manner as the in-	vested.
crement of the sinking fund of the State is author-
ized by law to be invested.
SEC. 3. And be it enacted, That the Treasurer be	Treasurer authorized to
and he is hereby further authorized to sell, with the	sell.