810 LAWS OF MARYLAND. [CH. 274

SEC. 5. And be it further enacted, That the sum of ten thou-
sand dollars ($10, 000), or so much thereof as may be necessary,
shall be paid by the Treasurer of this State upon the warrant
of the Comptroller out of the proceeds of the sale of bonds or
certificates of indebtedness for the payment of the expense of
engraving, printing and other outlays connected with the issue
of the loan hereby authorized, and for the payment of the ad-
vertising directed by this Act, and all other incidental expenses
connected with the execution of its provisions in connection with
said loan.

SEC. 6. And be it further enacted, That the actual cash pro-
ceeds of the sale of the certificates of indebtedness to be issued
under this Act shall be used exclusively for the following pur-
poses, to wit: The Comptroller shall, immediately upon the
sale of and payment for said bonds or certificates of indebted-
ness, first return to and credit the Treasury with whatever ad-
vances of payments may have been made as provided for by Sec-
tion 5 of this Act. The remainder of the proceeds of said loan
shall thereupon be paid to the Board of Visitors and Governors
of St. John's College for the purpose of paying the present in-
debtedness of said college, but conditioned upon the raising by
July 1, 1927, by the institution of a $200, 000 endowment fund
in addition to the $300, 000 endowment fund already raised,
making a total endowment of $500, 000.

SEC. 7. And be it further enacted, That the County Commis-
sioners of the several counties of the State, and the Mayor and
City Council of Baltimore are hereby respectively directed to
levy State taxes for the year 1928 at 1/42 of one cent on each
one hundred dollars of assessable property; for the year 1929
at 1/42 of one cent on each one hundred dollars of assessable
property; for the year 1930, and annually thereafter, to and in-
cluding the year 1942, 1/21 of one cent on each one hundred dol-
lars of assessable property, to be collected according to law, to
meet the interest on the amount of said certificates outstanding
and also to meet and redeem so much of the principal in each of
said years as will be represented by certificates redeemable in
each year, respectively, as herein specified in Section 2 of this
Act.

SEC. 8. And be it further enacted, That this Act shall take
effect June 1, 1924.

Approved April 9, 1924.