PUBLIC WORKS, BOARD OF. 241

indebtedness shall each bear date the first day of January,
1911, and shall not be issued in less sums than one hundred
dollars or some multiple thereof, except in cases where the due
execution of the provisions of this Act may require the issue
of a certificate or certificates of indebtedness expressing in
part a fraction or fractions of one hundred dollars; each of
said certificates shall be signed by the Treasurer of the State
and countersigned by the Comptroller of the Treasury thereof,
and shall'bear interest at a rate not exceeding three and one-
half per centum per annum, payable semi-annually on the first
day of July and January in each year; each proportion of said
certificates shall be registered, and such portion shall have
interest coupons attached thereto, as the Governor, Comp-
troller of the Treasury and Treasurer, or a majority of them,
may determine; each of said certificates of indebtedness shall
be payable fifteen years after the date thereof, and each of said
certificates of indebtedness and the debts evidenced thereby
shall be exempt from all State, county and municipal taxa-
tion.

SEC. 3. And be it further enacted, 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 Treasury and Treasurer of this State, or a
majority of them, be and they are hereby directed to advertise
twice a week for four successive weeks, between the first day
of December, 1910, and the first day of January, 1911, in two
newspapers published in Baltimore city, that the Treasurer of
this State will be in readiness, between the first day of Janu-
ary and the fifteenth day of January, 1911, to sell, at such place
or places as may be named in said respective advertisements,
bonds or certificates of indebtedness issued under the provi-
sions of this Act, under such regulations as may be made, in
the discretion of the Governor, Comptroller of the Treasury
and Treasurer, or the majority of them; and the accrued inter-
est between the date of the bonds or certificates and the time
of sale and delivery of and payment for said bonds and certifi-
cates shall be rebated to the purchaser 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 the said advertisement
as the day for opening the bids for the propositions thereby
called for, they shall receive such sealed proposals for the pur-
chase of as many of such certificates of indebtedness as may be
designated in said advertisement, and on the opening of said
sealed proposals, as many of said certificates of indebtedness as
.may have been so bid for shall be awarded by the Governor,
Comptroller of the Treasury and Treasurer, or a majority of