WM. PRESTON LANE, JR., GOVERNOR. 21

(d) The rate of interest of the certificates to be issued at
any particular time not exceeding in any case 3% per annum,
payable semi-annually.

(e) The date of the certificates issued at any particular
time, and within the limits prescribed by Article III, Sec-
tion 34 of the Constitution of Maryland, the redemption dates
of said certificates.

The Resolution authorizing the issuance of said loan or
any portion thereof shall set forth in detail the dates when
any of the certificates representing said loan or any portion
thereof are to be redeemed and the amount to be redeemed
upon such dates, respectively, according to the serial annuity
plan applied to said loan.

SEC. 2. And be it further enacted, That the Governor,
Comptroller of the Treasury and the Treasurer of the State,
constituting the Board of Public Works, or a majority of
them, are hereby authorized and directed to have prepared
proper Certificates of Indebtedness of the State in good and
sufficient form to aggregate the amount of Five Hundred
Twenty-five Thousand Dollars ($525,000), as evidence of such
loan; such Certificates of Indebtedness shall bear date as of
the time of their issue as provided in Section 1 of this Act.
Each of said Certificates shall be signed by the Treasurer of
the State and countersigned by the Comptroller of the
Treasury.

SEC. 3. And be it further enacted. That in order to pro-
vide for the selling of the Certificates of Indebtedness afore-
said, to be issued under the provisions of this Act, the
Governor, Comptroller of the Treasury and the Treasurer
of this State, or a majority of them, are hereby directed to
advertise twice a week for two successive weeks before the
said Certificates of Indebtedness; or any part thereof, shall
be issued, in two newspapers published in the City of Balti-
more, that the Treasurer of this State will be in readiness
at a time within fifteen (15) days after the expiration of
said notice to receive bids at such place or places as may
be named in said respective advertisements for bonds or
Certificates 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 be-
tween the date of the bonds or Certificates of Indebtedness
and the time of sale and delivery of and payments for said
bonds or Certificates of Indebtedness shall be adjusted with
the purchaser thereof under such regulations as may be made
in the discretion of the Governor, Comptroller of the Treas-
ury 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