162 LAWS OF MARYLAND. [CH. 69

the said sum of money herein appropriated for the objects
and purposes herein specified to or upon the order of the
person or persons entitled to receive the same.

SEC. 3. And be it further enacted, That this Act is hereby
declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety, and
having been passed by a yea and nay vote, supported by
three-fifths of all of the members elected to each of the two
Houses of the General Assembly of Maryland, the same shall
take effect from the date of its passage.

Approved November 10, 1947.

CHAPTER 69.
(House Bill 33)

AN ACT to add a new sub-section to Section 7 of Article 81
of the Code of Public General Laws of Maryland (1939
Edition), title "Revenue and Taxes", sub-title "Exemp-
tions", to be known as sub-section (34) of Section 7, and
to follow immediately after sub-section (33) of said sec-
tion and said Article exempting bonds or certificates of
indebtedness of the University of Maryland Athletic
Board, Inc., and the income therefrom from all State and
local taxes.

WHEREAS, the University of Maryland Athletic Board, Inc.,
will from time to time issue certain bonds or certificates of
indebtedness, the proceeds arising from the sale of which
are to be used and expended in the improvement of land
and buildings owned by the State of Maryland, and used in
connection with the University of Maryland, and;

WHEREAS, the State of Maryland will derive the sole bene-
fit from the issuance and sale of said bonds or certificates
of indebtedness, therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new sub-section be and the same is hereby add-
ed to Section 7 of Article 81 of the Code of Public General
Laws of Maryland (1939 Edition), title "Revenue and Taxes",
sub-title "Exemptions", to be known as sub-section (34) of
Section 7 of said Article, and to follow immediately after sub-
section (33) of said section and said Article, and to read as
follows:

7.

(34) All bonds or certificates of indebtedness heretofore
or hereafter issued by the University of Maryland Athletic