THEODORE E. MCKELDIN, GOVERNOR 1865

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

(b) The form of the certificate representing the loan or
any part thereof so authorized to be issued at any particu-
lar time, including any interest coupons to be attached
thereto, and provisions for the issuance of certificates in
registered form, provisions for the registration of any
coupon certificates as to principal of loan and for the re-
conversion into coupon certificates of any certificates reg-
istered as to principal.

(c) The denomination of the certificates to be issued
at any particular time, which may be not less than One
Hundred Dollars ($100) but may be in sums of One Hun-
dred Dollars ($100) or any suitable multiple thereof, and
the place or places of payment of principal and interest
thereof.

(d) The rate of interest of the certificates to be issued
at any particular time not exceeding in any case four per-
cent (4%) 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 por-
tion thereof are to be redeemed and the amount to be re-
deemed upon such dates, respectively, according to the
serial annuity 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
certificates 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
Five Hundred Thousand Dollars ($500, 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 and
countersigned in the manner prescribed by Section 3 of
Article VI of the Maryland Constitution.