MARVIN MANDEL, Governor                            2483

for consumption on the premises only to bona fide clubs
as defined by § 2 (n) of this article, which have held
regular meetings at an established headquarters for a
period of one year prior to the application for said
license. The cost of said license shall be one hundred
and fifty dollars ($150.00) and said licensee shall be
authorized to sell for consumption on the premises brewed
beverages with an alcoholic content of no more than six
per centum by volume and fermented beverages containing
no more than [fourteen per centum} 23% by volume.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.

Approved May 31, 1974.

CHAPTER 726
(House Bill 445)
AN ACT concerning

Municipal Government Loan of 1974

FOR the purpose of authorizing the creation of a State
debt in the aggregate amount of [[Twenty Million
Dollars ($20,000,000)]] Two Million Dollars
($2,000,000), the proceeds thereof to be used to
provide financial assistance to the municipal
corporations in the State for the construction of
municipal streets and roads and municipal buildings;
providing for the method by which this financial
assistance is to be afforded to municipal
corporations; and providing generally for the issue
and sale of bonds evidencing such loan.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Board of Public Works is hereby
authorized and empowered to issue a State loan to be
known as the "Municipal Government Loan of 1974", in the
aggregate amount of [[Twenty Million Dollars
($20,000,000)]] Two Million Dollars $(2,000.000).

The certificates of indebtedness (hereinafter called
"Bonds") evidencing said loan may be issued all at one
time or, in groups, from time to time, as hereinafter
provided. All of said bonds evidencing said loan, or any
group thereof, shall be issued according to a serial
maturity plan to be established in the resolution