A. W. BRADFORD, ESQUIRE, GOVERNOR.

157

Sec. 5. And be it enacted, That the Treasurer
is hereby authorized and, directed to receive •from
any person or bodies corporate, in payment fpr any
part "of the "Maryland Defence Loan," purchased
by them under the provisions of this act, any
United States Treasury notes, bonds or evidences
of debt, which at the time of said payment shall
be receivable by the United States for taxes and
public dues.

U. S. Treasury
notes receiva-
ble for public
dues.

Sec. 6. And be it enacted, That all payments
made by, or on account of the purchasers of the
Loan authorized by this act, shall be made to the
Treasurer on the warrants of the Comptroller, and
all certificates of the stock of said loan, including
those issued to the Treasurer himself, as trustee of
the Sinking Fund, shall be signed by the Treasurer
and countersigned by the Comptroller.

Payments on
accountofloan
— to whom
payable, &c.

Sec. 7. And be it enacted, That the additional
direct tax of fifteen cents on every hundred dol-
lars worth of the assessable property of the State,
imposed ,by the General Assembly at its present
session, is hereby specially pledged for the pay-
ment of the loan authorized by this act, and the
said tax is hereby, on the faith of the State, de-
clared irrepealable until the principal and interest
of the said loan shall have been fully paid.

Additional
direct tax spe-
cially pledged
to payment of
Loan.

Sec. 8. And be it enacted, That any of the char-
tered banks of this State may purchase any amount
of the loan authorized by this act to be issued,
without regard to any limit heretofore prescribed
by the laws of this State., relating to said banks ;
and in case any bank in which the State holds
part of the capital stock shall propose to take and
shall be awarded any part of the said loan, the
Treasurer is hereby authorized in his discretion,
and with the approval of the Governor and Comp-
troller, certified in writing, to pledge to such bank
as security for the payment of principal and in-
terest of the part of the loan so awarded and taken,
an equal amount of the capital stock of said bank
so owned by the State, if the State shall hold so
much of the capital stock of said bank.

Banks privi-
leged to pur-
chase Loan.

Sec. 9. And be it enacted, That the State loan
authorized by this act, shall be exempt from all
State, city and county taxation.

Loan exempt
from taxation.

Sec. 10. And be it enacted, That this act shall
take effect from the day of its passage.

In force.