180 LAWS OF MARYLAND [CH. 62

When the present Physics building was constructed in 1929, the
physics faculty numbered four. There were about 125 under-
graduates who took physics courses and 25 graduate students
majoring in physics. Today the Department has 14 faculty members.
With physics being basic to many fields including engineering, there
are nearly 300 under-graduates taking general physics courses in
the daytime and more than 400 in the evening college. Beyond
the general course, there are now more than 700 taking physics
in the daytime and nearly 140 at night. As contrasted to the 25
graduate students majoring in physics in 1929, there are now
118. At this level, the Department is operating at absolute max-
imum capacity; and

WHEREAS, the Physics Department of the Johns Hopkins Uni-
versity is of inestimable value to the State of Maryland since about
one-half of all under-graduate students who take courses in Phys-
ics are residents of this State. In addition, at the graduate level
67% of the Engineering students taking Physics are Maryland
residents and 43% Liberal Arts students taking Physics are Mary-
land residents. In addition, all of the undergraduate and graduate
students taking such work in the night school are residents of
Maryland; and

WHEREAS, the faculty of the Physics Department has in many
cases provided valuable consulting services for Maryland indus-
tries and Maryland residents; and

WHEREAS, in the judgment of the General Assembly of Mary-
land the work of the University has been of such importance as
to warrant assistance from the State in the construction of addi-
tional facilities for the Physics Department; now therefore

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Board of Public Works is hereby authorized and directed
to issue a State loan to be known as the "Johns Hopkins University
Loan of 1960", in the aggregate sum of One Million Two Hundred
Fifty Thousand Dollars ($1, 250, 000. 00).

The certificates evidencing said loan may be issued all at one
time or, in groups, from time to time, as hereinafter provided. 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 certifi-
cates for the first two (2) years from the time of the issuance
of said certificates.

The Board of Public Works shall, and is hereby authorized and
empowered to, pass a resolution or resolutions from time to time,
determining and setting forth:

(a) The proportion of the total loan authorized by this Act
which shall be issued at any particular time;

(b) The form of the certificate representing the loan or any
part thereof so authorized to be issued at any particular time, in-