1274 LAWS OF MARYLAND.

allowing such rate of interest therefor as may be agreed upon,
not exceeding the legal rate of interest; provided, such certifi-
cates or bonds do uot at any time exceed twice the amount of
the capital stock actually paid in; fourth, to loan money on
promissory and negotiable notes, bills obligatory or other evi-
dences of debt 'and to make advances on redeemable shares of
the stock of said corporation, and to borrow money at such
rates of interest, not exceeding the legal rate, and on such terms
as may be agreed on, and to issue therefor the obligations or
bonds of the said corporation, with or without coupons at-
tached.

SEC. 8. And be it enacted, That all loans heretofore made by
the said corporation on promissory and negotiable notes, bills
obligatory or other evidences of debt, and all conveyances of
land heretofore made by or to the said corporation, be and the
same are hereby ratified and confirmed.

SEC. 9. And be it enacted. That this Act shall take effect
from the date of its passage.

approved April 6, 1908.

CHAPTER 377.

A. N ACT to exempt the property occupied by the Veteran Corps
of the Fifth Regiment Infantry, M. N. G., from the payment
of State and city taxes.

Whereas the Veteran Corps of the Fifth Regiment Infantry,
M. X. G., is by the laws of this State entitled to all the rights
and privileges conferred upon members of the National Guard
of this State, except that they shall not share in any appro-
priation made for the support of said National Guard; and

Whereas the said Veteran Corps has recently purchased
through the medium of a corporation owned and controlled by
it the property known as No. 1112 Madison avenue, in the city
of Baltimore, the said property to be used and occupied by the
said Veteran Corps as its headquarters and armory; and

Whereas it is deemed right and proper that the said Veteran
Corps of the Fifth Regiment Infantry, M. X. G., should not be
obliged to pay any State or city taxes levied upon said prop-
erty whilst the same is so used by the said Veteran Corps for its
headquarters and armory; therefor,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the lot and improvements known as No. 1112 Madi-
son avenue in the city of Baltimore, be and the same is hereby
exempted from taxation for State and city purposes, so long as