WM. PRESTON LANE, JR., GOVERNOR. 15

payable thereon, authorized to be created by Chapter 502 of
the Acts of 1949 and Chapter 1 of the Acts of 1949, Extra-
ordinary Session, shall be and forever remain exempt from
State, County and Municipal taxation.

SEC. 2. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and having
been passed by a yea and nay vote, supported by three-fifths
of all the members elected to each of the two Houses of the
General Assembly of Maryland, the same shall take effect from
the date of its passage.

Approved December 17, 1949.

CHAPTER 6

(House Bill 1)

AN ACT to repeal Chapter 683 of the Acts of 1949 and to
authorize the creation of a State debt in the aggregate
amount of Three Hundred Fifty Thousand Dollars
($350,000), the proceeds thereof to be used for the purpose
of erecting and equipping a new building or buildings for
the colored deaf and blind at the Maryland School for the
Blind, to provide generally for the issue and sale of certifi-
cates of indebtedness evidencing such loan and to levy taxes
to pay the interest on and principal of said debt.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Chapter 683 of the Acts of 1949 be and the same
is hereby repealed.

SEC. 2. And be it further enacted. That the Board of Pub-
lic Works is hereby authorized and directed to issue a State
loan to be known as the "Maryland School for the Blind
Loan of 1949", in the aggregate sum of Three Hundred Fifty
Thousand Dollars ($350,000).

The certificates evidencing said loan may be issued all at
one time or, in groups, from time to time, as hereinafter pro-
vided. All of said certificates evidencing said loan, or any
group thereof, shall be issued according to what is known as
the serial annuity plan so worked out as to discharge the
principal represented by said certificate within fifteen (15)
years from the time of its issue, provided, however, that it
shall not be necessary to provide for the redemption of any
part of the principal represented by any certificate for the
first two (2) years from the time of the issuance of said
certificate.