324 LAWS OF MARYLAND [CH. 49

CHAPTER 49
(Senate Bill 138)

AN ACT to repeal Sections 1 to 3, inclusive, of Chapter
996 of the Acts of 1945 and to enact in lieu thereof three
new Sections to be known as Sections 1 to 3, inclusive,
and to repeal and re-enact, with amendments, Section 7
of said Chapter 996 of the Acts of 1945, relating to the
State Office Building Loan of 1945.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Sections 1 to 3, inclusive, of Chapter 996
of the Acts of 1945 be and the same are hereby repealed
and three new Sections be and the same are hereby enacted
in lieu thereof, said new Sections to be known as Sections
1 to 3, inclusive, and all to read as follows:

1. That the Board of Public Works is hereby authorized
and directed to issue a State loan to be known as the
"State Office Building Loan of 1945", in the aggregate sum
of Two Million Dollars ($2,000,000).

The certificates evidencing said loan may be issued all
at one time or, in groups, from time to time, as herein-
after provided. All of said certificates evidencing said
loan, or any group thereof, shall be issued according to
what is known as the serial annuity plan so worked out
as to discharge the principal represented by said certificate
within fifteen (15) years from the time of its issue, pro-
vided, however, that it shall not be necessary to provide
for the redemption of any part of the principal represented
by any certificate for the first two (2) years from the
time of the issuance of said certificate.

2. That the Board of Public Works shall and is hereby
authorized and empowered to pass a resolution or resolu-
tions, from time to time, determining and setting forth:

(a) The proportion of the total loan authorized by
this Act which shall be issued at any particular time;

(b) The form of the certificates representing the loan
or any part thereof so authorized to be issued at any par-
ticular time, including any interest coupons to be attached
thereto, and provisions for the issuance of certificates in

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike-out indicates matter stricken out of bill.