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Session Laws, 1935
Volume 579, Page 156   View pdf image (33K)
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156 LAWS OF MARYLAND. [CH. 89

SEC. 6. And be it further enacted, That the Comptroller
of the Treasury and the Treasurer are hereby authorized
to issue and deliver to the Teachers' Retirement System
of Maryland, to fund the accrued liability of the State to
the system for the fiscal years 1936 and 1937, bonds of
the par value of $700,000 constituting the issue of $350,-
000 of April 1, 1936 and issue of $350,000 of April 1,
1937, respectively.

SEC. 7. And be it further enacted, That the actual cash
proceeds of the sale of the certificates of indebtedness to
be issued under this Act, other than the certificates of
indebtedness to be issued and delivered to the Teachers'
Retirement System of Maryland as set forth in Section 6
of this Act, shall be paid to the Treasurer of the State
upon the Warrant of the Comptroller, and such proceeds
shall be used exclusively for the following purposes, 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 for whatever ad-
vances or payments may have been made as provided for
by Section 5 of this Act; the remainder of the proceeds
of said loan shall be credited on the books of the State
Treasury Department to the credit of the institutions and
departments hereinafter named, in the amounts herein-
after specified, and by them used, expended and applied
for the following purposes:

To the Military Department, for remodeling and recon-
structing the 5th Regiment Armory in Baltimore City,
$100,000, all from the issue of August 15, 1935.

To the Maryland Tuberculosis Sanatorium Commission,
for the construction and equipment of a hospital building
at Henryton Sanatorium, $55,000, all from the issue of
August 15, 1936.

SEC. 8. And be it further enacted, That all contracts for
the above purposes shall be subject to the approval of the
Board of Public Works, and where appropriations are made
to an institution or department for two or more purposes,
the order in which the same are to be begun shall likewise
be subject to the approval of the Board of Public Works,
In case any balance remains to the credit of any of the above
named institutions or departments after the completion of
any of the purposes specified, then such institutions or
departments may expend such balance upon any building,
construction or equipment purpose which may be approved
by the Board of Public Works.

 

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Session Laws, 1935
Volume 579, Page 156   View pdf image (33K)
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