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Session Laws, 1927
Volume 569, Page 549   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 549

CHAPTER 307.

AN ACT to repeal and re-enact with amendments, Section 6
of Chapter 274 of the Acts of the General Assembly of
Maryland of 1924, entitled "An Act to authorize the crea-
tion of a State debt in the aggregate amount of one hundred
and ten thousand dollars ($110, 000), the proceeds thereof
to be used for paying the present indebtedness of St. John's
College, and providing generally for the issue and sale of
certificates of indebtedness evidencing such loan, " so as to
strike out the requirement of said Act that the payment of
the $110, 000 State loan provided thereby is conditioned
upon the raising by the said institution of an endowment
fund and to make the same unconditional.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 6 of Chapter 274 of the Acts of the General
Assembly of Maryland of 1924 be and the same is hereby re-
pealed and re-enacted with amendments so as to read as follows:

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 indebtedness,
first return to and credit the Treasury with whatever advances
of payments may have been made as provided for by Section 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 indebt-
edness of said college.

SEC. 2. And be it further enacted, That this Act is au emer-
gency law and necessary for the immediate preservation of the
public health and safety, and having been passed by a yea and
nay vote by three-fifths of all the members elected to each of
the two houses of the General Assembly, the same shall take
effect from the day of its passage.

Approved April 1, 1927.

CHAPTER 308.

AN ACT to amend the Charter of the Mutual Insurance Com-
pany of Frederick County, as heretofore amended, by re-
pealing and re-enacting with amendments Sections Four,
Five, Seven, Eight, Nine and Ten of Chapter 841 of the

 

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Session Laws, 1927
Volume 569, Page 549   View pdf image (33K)
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