HERBERT R. O'CONOR, GOVERNOR. 1551

form of the bonds, including any interest coupons to be
attached thereto, and shall fix the denomination or denomina-
tions of the bonds and the place or places of payment of prin-
cipal 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 the official seal
of the Commission shall be affixed thereto and attested by
the Secretary of the Commission, and any coupons 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 never-
theless 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 Incidents of negotiable instruments under
the negotiable Instruments 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 pro-
vision may be made for the registration of any coupon bond
as to principal alone and also as to both principal and interest.
The Commission shall sell such bonds, in accordance with
the provisions of Section 35 of Article 31 of the Annotated
Code of Maryland (1939 Edition), but no such sale shall
be made at a price so low as to require the payment of
interest on the money received therefor at more than four
and one-half per centum per annum, computed with relation to
the absolute maturity of the bonds in accordance with stand-
ard tables of bond values. The proceeds of such bonds shall
be used solely for the payment of the cost of a motorway
and shall be disbursed upon requisition of the Chair-
man of the Commission under such restrictions, if any,
as the resolution authorizing the issuance of the bonds or the
trust indenture hereinafter mentioned may provide. If the
proceeds of such bonds, by error of calculation or otherwise,
shall be less than the cost of the motorway, additional bonds
may in like manner be issued to provide the amount of such
deficit, and unless otherwise provided in the resolution author-
izing the issuance of the bonds or in the trust indenture, shall
be deemed to be of the same issue and shall be entitled to
payment from the same fund without preference or priority
of the bonds first issued for the same purpose. If the proceeds
of the bonds of any issue shall exceed the amount required for
the purpose for which such bonds are issued, the surplus shall
be paid into the fund hereinafter provided for the payment of
principal and interest of such bonds. Prior to the prepara-