1068 LAWS OF MARYLAND [CH. 345

ture shall nevertheless be valid and sufficient for all pur-
poses. the same as if such officer had remained in office
until such delivery. All revenue bonds issued under the
provisions of this Act 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. Provision may be made for
the registration of any of the bonds in the name of the
owner as to principal alone and also as to both principal
and interest, and for the issuance of new coupon bonds in
exchange for bonds registered as to both principal and
interest. Such bonds shall be sold by the Authority in
such manner and for such price as it may determine to
be for its best interests, 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 six per centum per
annum, computed with relation to the absolute maturity of
the bonds in accordance with standard tables of bond
values. None of the provisions of Sections 35 and 36 of
Article 31 of the Code of Public General Laws of Mary-
land (1939 Edition and 1947 Supplement) shall have any
application to the bonds hereby authorized and such bonds
are hereby explicity exempted therefrom, but all such
bonds shall be treated as negotiable instruments, as pro-
vided in Section 33 of said Article 31. If the proceeds of
any particular issue of revenue bonds, by error of calcu-
lation or otherwise, shall be less than the cost of the pro-
ject or projects for which the same were originally issued,
additional bonds may be issued to provide the amount of
such deficit, and unless otherwise provided by the author-
izing resolution or in the trust indenture securing the
bonds originally issued for said project or projects, shall
be deemed to be of the same issue and shall be entitled to
payment from the same fund without preference or prior-
ity of the bonds first issued for such purposes. If the pro-
ceeds of any particular issue of bonds shall exceed such
cost, the surplus shall be paid into the sinking fund, or
otherwise as provided for in the indenture securing said
bonds.

Prior to the preparation of definitive bonds, the Author-
ity may, under like restrictions, issue temporary bonds,
with or without coupons, exchangeable for definitive bonds
upon the issuance of the latter. The Authority may also
provide for the replacement of any bond which shall be-
come mutilated or be destroyed or lost. Such revenue bonds
may be issued without an election or any other proceedings
or the happening of any other conditions or things than