LLOYD LOWNDES, ESQUIRE, GOVERNOR.

per annum, payable semi-annually on the first day of July and
the first day of January of each year ; such proportions of
such certificates of indebtedness shall be registered, and such
proportion shall have interest coupons attached thereto as the
said Governor, Comptroller of the Treasury and Treasurer of
the State, or a majority of them may determine ; each of such
certificates of indebtedness shall be redeemable by the State
at any time after ten years from the date thereof, and payable
fifteen years from the date thereof ; each of such certificates of
indebtedness, and the respective debt evidenced thereby shall
be exempt from all State, county and municipal taxation.

SEC. 3. And le it enacted, That in order to provide for the
exchange of certificates of indebtedness, issued under the pro-
visions of this Act, for the bonds or evidences of indebtedness
issued under the said several Acts and chapters mentioned and
referred to in the preamble of this Act, the Governor, Comp-

733

troller of the Treasury and Treasurer of the State, or a ma-
jority of them, be and they are hereby directed to advertise-
twice a week for three successive weeks between the first day
of September and the first day of November, in the year
eighteen hundred and ninety-eight, in two newspapers pub-
lished in each of the cities of Baltimore, Philadelphia and
New York, that the treasurer of this State will be in readi-
ness between the first day of October and the fifteenth
day of November, in the year eighteen hundred and ninety-
eight, to exchange at such place or places as may be named
in said respective advertisements, certificates of indebted-
ness, issued under the provisions of this Act, for bonds or
evidences of indebtedness of this State, issued under the Acts
above mentioned and referred to in the preamble of this Act,
in so far as such bonds or certificates of indebtedness may then
remain unpaid upon the terms hereinafter in this section pre-
scribed ; and the treasurer of this State is hereby authorized, and
may be required, between the first day of November and the
fifteenth day of December, in the year eighteen hundred and
ninety-eight, by the holder or holders of any of the bonds or
evidences of indebtedness of this State, issued under the Acts
mentioned and referred to in the preamble of this Act, to
exchange before the fifteenth day of December, in the year
eighteen hundred and ninety eight, and as of the date of the
first day of January, eighteen hundred and ninety-nine, any
part or parts of the certificates of indebtedness of this State
issued under the provisions of this Act at their face amount
and value, for any part of the bonds or evidences of indebted-

Advertise in
two news-
papers in
cercaln
cities.