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1
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destroys any school fund that might heretofore have existed
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2
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MR. RENN1E: Yes.
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3
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MR. SACHS: So, there is — sticking with Article
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4
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8, Section 3, which does read, "The School Fund of the
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5
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State shall be kept inviolate, and appropriated only to the
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6
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purposes of education;" is it then your statement that at
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7
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the present time that is simply a meaningless clause?
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8
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MR. RENNIE: As a school fund, as such, yes.
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9
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DE. JENKINS: May I ask another question?
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10
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THE CHAIRMAN: Yes, sir.
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11
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DR. JENKINS: I an very naive about financial
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12
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matters, but I wanted to raise the question about the
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13
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fifteen-year provision for bonds. Would it be desirable
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14
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to extend this fifteen-year period, in light of the fact
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15
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that in our economy they have built-in inflation, and might
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16
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Maryland do as the Federal Government does under housing
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17
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programs, at least, to extend this as much as —
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18
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THE CHAIRMAN: We had a hearing on that.
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19
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DR. JENKINS: I know, but I wanted Mr. Rennie's -
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20
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THE CHAIRMAN: Hell, we are going to have a
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21
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meeting in New York which I hope you will attend, and it
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