1530 LAWS OF MARYLAND. [CH. 856

coupons or tickets issued to ferry passengers with respect
to the reduction in certain passenger fares pursuant to the
order of the Public Service Commission effective from and
after July 1st, 1940.

140C. The Commission shall determine the form of the
bonds hereby authorized including any interest coupons to
be attached thereto, and shall fix the denomination or
denominations of the bonds and the place or places of pay-
ment of principal and interest thereof, which may be at any
bank or trust company within or without the State. The
bonds shall be signed by the Chairman of the Commission
and countersigned by the Comptroller of the State and the
official seal of the Commission shall be affixed thereto and
attested by the Secretary of the Commission and any cou-
pons attached thereto shall bear the facsimile signature of
the Chairman of the Commission. In case any officer whose
signature shall appear on any bonds or coupons shall cease
to be such officer before the delivery of such bonds, such
signature shall nevertheless be valid and sufficient for all
purposes the same as if he had remained in office until such
delivery. All revenue bonds issued under the provisions of
this sub-title shall have and are hereby declared to have,
as between successive holders, all the qualities and inci-
dents of negotiable instruments under the negotiable in-
struments law of the State. Such bonds and the income
thereof shall be exempt from all taxation within the State.
The bonds may be issued in coupon or in registered form,
or both, as the Commission may determine, and provision
may be made for the registration of any coupon bond as
to principal alone and also as to both principal and interest.

140D. The bonds shall be secured by a trust indenture
by and between the Commission and a corporate trustee,
upon approval by the Governor, the Comptroller of the
Treasury and the Treasurer of Maryland, constituting the
Board of Public Works. Said corporate trustee may be any
trust company or bank having the powers of a trust com-
pany within or outside of this State. The principal and in-
terest of such bonds shall be payable solely from the special
funds herein provided for such payment. The bonds shall
be dated and shall bear interest at a rate not exceeding
four and one-half per centum (4%) per annum payable
. semi-annually. All such bonds, including additional bonds,
if any, issued pursuant to section 140G, may have the same
maturity date, or, as determined by the Commission prior
to their issuance, the total amount of such bonds may be
divided into series, appropriately designated, each series
having its own maturity date, provided that in any event