1006                           LAWS OF MARYLAND                      [CH. 426

Chapter 138 of the Acts of 1964 as amended

by Chapter 792 of the Acts of 1965
1. (d)

The rate or rates of interest of the certificates to be issued at any
particular time not exceeding in any case [4%] 4½% per annum,
payable semi-annually.

5.

The actual cash proceeds of the sale of the Certificates of Indebt-
edness to be issued under 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 certificates, first return to and credit the Treasury for a sum
equivalent to the amount expended as provided for in Section 4 of
this Act; the remainder of the proceeds of said loan shall be credited
on the books of the State Treasury Department, to be used as needed
by the State, upon approval by the Board of Public Works, and in
accordance with the provisions of the subheading "Maryland Hos-
pital Commission," in the subtitle "Hospitals," in Article 43 of the
Annotated Code of Maryland, for loans to be made to voluntary,
non-profit hospitals for the construction, expansion, relocation, re-
placement or modernization of their hospital buildings, facilities and
equipment. For the purposes of these expenditures, the provisions
and requirements of said subheading are incorporated with this
section. No loan made hereunder shall be made at a rate of interest
greater than four and [one-eighth] five-eighths per centum [4⅛]
4⅝ per annum.

At any time after June 30, 1970, the Board of Public Works may
direct that all loan funds constituting part of the proceeds of certifi-
cates of indebtedness issued under this Act and not previously or then
expended, granted or contracted for shall be transferred to the Annu-
ity Bond Fund and shall be applied to the debt service requirements
of the State; and all payments of principal and interest received by
the State on account of loans made to hospitals under this Act shall
be placed in the said Annuity Bond Fund and so applied.

Chapter 159 of the Acts of 1964
1. (d)

The rate or rates of interest of the certificates to be issued at any
particular time not exceeding in any case [4%] 4½% per annum,
payable semi-annually.

Chapter 629 of the Acts of 1965
1. (d)

The rate or rates of interest of the certificates to be issued at any
particular time not exceeding in any case [4%] 4½% per annum,
payable semi-annually.

Chapter 708 of the Acts of 1965
1. (d)

The rate or rates of interest of the certificates to be issued at any
particular time not exceeding in any case [4%] 4½% per annum,
payable semi-annually.