730 LAWS OF MARYLAND. [CH. 228

to levy State taxes for the year 1930 at one one-hundredth?
(1/100) of one cent on each one hundred dollars of assessable
property; for the year 1931 at one one-hundredths (1/100)
of one cent on each one hundred dollars of assessable property;
for the year 1932, and annually thereafter, to and including
the year 1944, at 2 one-hundredths (2/100) of one cent on each
one hundred dollars of assessable property, to be collected, ac-
cording to law, to meet the interest on the amount of said cer-
tificates 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. S. And be it further enacted, That this Act shall take
effect June 1, 1929.

Approved April 2, 1929.

CHAPTER 228,

AN ACT to add a new section to Article 81 of the Code of
Public General Laws of Maryland, Edition of 1924, title
"Revenue and Taxes, " sub-title "Exemptions, " to be known
as Section 8A and to follow immediately after Section 8 of
said Article.

WHEREAS, The University of Maryland Athletic Board,
Incorporated, is about to issue certain bonds or certificates of
indebtedness, in the sum of One Hundred and Sixty Thousand
Dollars ($160, 000. 00), the proceeds arising from the sale of
which are to be used and expended in the improvement of land
or buildings owned by the State of Maryland, and used in
connection with University of Maryland; and

WHEREAS, The State of Maryland will derive the sole bene-
fit from the issuance and sale of said bonds or certificates of
indebtedness; therefore

SECTION 1. Be it enacted by the General Assembly of
Maryland, That a new section be, and the same is hereby
added to Article 81 of the Code of Public General Laws of
Maryland, Edition of 1924, title "Revenue and Taxes, " sub-
title "Exemptions, " to be known as Section 8A, to follow