1182 LAWS OF MARYLAND [CH. 412

hereby created and known as the Motor Vehicle Revenue Fund,
said fund to be thereafter held and distributed in accordance
with the provisions applicable to said fund contained in Article
89B of the Annotated Code of Maryland.

SEC. 2. And be it further enacted, That this Act shall take
effect July 1, 1951.

Approved April 13, 1951.

CHAPTER 412
(House Bill 591)

AN ACT to authorize the creation of a State Debt in the aggre-
gate amount of Eighteen Million Six Hundred and Ninety-
Five Thousand Dollars ($18, 695, 000), NINETEEN MIL-
LION FIVE THOUSAND DOLLARS ($19, 005, 000), the
proceeds thereof to be used for certain necessary build-
ing, construction, deferred maintenance, and equipment pur-
poses of this State, for acquiring certain land and providing
generally for the issue and sale of Certificates of Indebted-
ness evidencing such loan.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Board of Public Works is hereby authorized
and directed to issue a State loan to be known as the "General
Construction Loan of 1951", in the aggregate sum of Eighteen
Million Six Hundred and Ninety Five Thousand Dollars
($18, 695. 00). NINETEEN MILLION FIVE THOUSAND
DOLLARS ($19, 005, 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 certificates 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 certificates for the
first two (2) years from the time of the issuance of said
certificates.

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EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.