THEODORE R. MCKELDIN, GOVERNOR 1197

Counties and Baltimore City shall forthwith levy and collect
such tax at such rate.

All matters committed by this Act to the discretion of the
Board of Public Works shall be determined by a majority of
said Board.

SEC. 7. And be it further enacted, That this Act shall take
effect June 1, 1951.

Approved April 13, 1951.

CHAPTER 413

(House Bill 592)

AN ACT to authorize the creation of a State Debt in the aggre-
gate amount of Two Million Five Hundred Thousand Dol-
lars ($2, 500, 000), ONE MILLION DOLLARS ($1, 000, 000),
the proceeds thereof to be used for certain necessary equip-
ment, supplies, land, buildings, and the payment of certain
necessary salaries and operating costs in connection with
civil defense and providing generally for the issue and sale
of Certificates of Indebtedness 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
"Civil Defense Loan of 1951", in the aggregate sum of Two
Million Five Hundred Thousand Dollars ($2, 500, 000). ONE
MILLION DOLLARS ($1, 000, 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.