Theodore R. McKeldin, Governor      283

(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 parti-
cular time, and within the limits prescribed by Article
III, Section 34 of the Constitution of Maryland and 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 an-
nuity plan applied to said loan as a whole or to the group
of certificates evidencing a part of said loan issued at a
particular time, as the case may be. Said loan and certifi-
cates and every part thereof and the interest payable
thereon shall be and remain exempt from State, County
and municipal taxation.

Sec. 2. And be it further enacted, That the Board of
Public Works is hereby authorized and directed to have
prepared proper Certificates of Indebtedness of the State
in good and sufficient form to aggregate the amount of

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TWENTY-THREE MILLION
FIVE Hundred Twenty-Five Thousand Dollars

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($23,525,000), as evidence of such loan; such Cer-
tificates 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 and countersigned in
the manner prescribed by Section 3 of Article VI of the
Maryland Constitution.

Sec. 3. And be it further enacted, That in order to pro-
vide for the selling of the Certificates of Indebtedness
aforesaid, to be issued under the provisions of this Act, the
Board of Public Works, is hereby directed to advertise
once before the said Certificates of Indebtedness, or any
part thereof, shall be issued, in two newspapers published
in the City of Baltimore and in such other manner as the
Board of Public Works in its discretion may determine,
that the Treasurer of this State will be in readiness at a
time within twenty (20) 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 Board of Public Works; and the accrued