366 LAWS OF MARYLAND. [Ch. 187]

the principal amount of the said loan shall be payable fifteen
years after the date of said respective series.

SEC. 3. And be it further enacted by the General Assembly
of Maryland, That the Governor, Comptroller and Treasurer,
or a majority of them, are hereby authorized, empowered and
directed to have prepared proper certificates of indebtedness
of the State in good and sufficient form to aggregate the amount
of eight hundred thousand dollars ($800,000), as evidence of
said loan; such certificates of indebtedness shall bear dates as
provided in section 2 of this act, to be issued in denominations
of one thousand dollars ($1,000) each, and shall be signed by
the Treasurer of the State and countersigned by the Comp-
troller, and shall bear interest not exceeding four per cent.
(4%) per annum, payable on the first days of January and
July of each year; such portion of said certificates shall be
registered and such portion shall have interest coupons attached
thereto, as the Governor, Treasurer and Comptroller of the
Treasury, or a majority of them, shall determine.

SEC. 4. And be it further enacted by the General Assembly
of Maryland, That in order to provide for the selling of the
certificates of indebtedness aforesaid, to be issued under the
provisions of this act, the Governor, Comptroller of the Treas-
ury and Treasurer of the State, or a majority of them, are
hereby directed to advertise twice a week for four successive
weeks, between the first day of December, 1912, and the first
day of January, 1913, and a like notice between the first day
of June and the first day of July, 1913, in two newspapers
published in the City of Baltimore, that the Treasurer of this
State will be in readiness between the first and fifteenth day
of January, 1913, and between the first and fifteenth day of
July, 1913, to receive bids at such place or places as may be
named in said respective advertisements for bonds or certifi-
cates of indebtedness issued under the provisions of this act.
under such regulations as may be made in the discretion of
the Governor, Comptroller of the Treasury and Treasurer, or
a majority of them; and the accrued interest between the date
of the bonds or certificates and the time of sale and delivery of
and the payment for said bonds and certificates shall be adjusted
with the purchaser or purchasers thereof under such regulations
as may be made in the discretion of the Governor, Comptroller
of the Treasury and Treasurer, or a majority of them; and
upon the day mentioned in said advertisement, as the day for
opening the bids for the proposals thereby called for, they shall
receive such sealed proposals for the purchase of as many such
certificates of indebtedness as may be designated in said adver-