672 LAWS OF MARYLAND [CH. 264

bonds in accordance with standard tables of bond values,
excluding, however, from such computation the amount of
any premium to be paid on redemption of any bonds prior
to maturity.

(b) The proceeds of the bonds of each issue shall be
used solely for the payment of the cost of the project or
projects for which such bonds shall have been issued, and
shall be disbursed in such manner and under such restric-
tions, if any, as [the Authority] the University of Mary-
land may provide in the resolution authorizing the issuance
of such bonds or in the trust agreement hereinafter men-
tioned securing the same. If the proceeds of the bonds of
any issue, by error of estimates or otherwise, shall be less
than such cost, additional bonds may in like manner be issued
to provide the amount of such deficit, and, unless otherwise
provided in the resolution authorizing the issuance of such
bonds or in the trust agreement securing the same, shall be
deemed to be of the same issue and shall be entitled to pay-
ment from the same fund without preference or priority
of the bonds first issued. If the proceeds of the bonds of
any issue shall exceed the cost of the project or projects
for which the same shall have been issued, the surplus shall
be deposited to, the credit of the [funds for the payment of
the interest and principal of said bonds] sinking funds for
such bonds.

(c) Prior to the preparation of definitive bonds, [the
Authority] said University may, under like restrictions, is-
sue interim receipts or temporary bonds, with or without
coupons, exchangeable for definitive bonds when such
bonds shall have been executed and are available for de-
livery. [The Authority] Said University may also provide
for the replacement of any bonds which shall become muti-
lated or shall be destroyed or lost.

(d) Bonds may be issued under the provisions of this
sub-title without obtaining the consent of any department,
division, commission, board, bureau, or agency of the State,
and without any other proceedings or the happening of any
other conditions or things than those proceedings, condi-
tions or things which are specifically required by this sub-
title. The provisions of Sections 34 to 36, inclusive, of
Article 31 of the Annotated Code of Maryland (1939 Edi-
tion), and any amendments thereto, shall not apply to reve-
nue bonds issued under the provisions of this sub-title.

(e) Any bonds issued under authority of this sub-title
shall not create or constitute any indebtedness or obligation
of the State of Maryland or of any political sub-division