THEODORE R. MCKELDIN, GOVERNOR 173

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 cer-
tificates 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
Nino Million -Nine Hundred Ninety Fivo Thousand Dollars
($9,995,000) SEVEN MILLION EIGHT HUNDRED ANP
FORTY NINE THOUSAND SK£ HUNDRED DOLLARS
($7,819,600) SEVEN MILLION EIGHT HUNDRED
SIXTY-FOUR THOUSAND SIX HUNDRED DOLLARS
($7,864,600), 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 cer-
tificates shall be signed and counter-signed in the manner
prescribed by Section 3 of Article VI of the Maryland Con-
stitution.

SEC. 3. And be it further enacted, That in order to pro-
vide for the selling of the Certificates of Indebtedness afore-
said, 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 In-
debtedness 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 interest between
the date of the bonds or Certificates of Indebtedness and
the time of sale and delivery of and payments for said
bonds or Certificates of Indebtedness shall be adjusted with
the purchaser thereof under such regulations as may be
made in the discretion of the Board of Public Works; and
upon the day mentioned in said advertisement as the day
for opening the bids for the proposals thereby called for,
they shall receive such sealed proposals for the purchase of
as many of such bonds or Certificates of Indebtedness as
may be mentioned or designated in said advertisements;
and on the opening of such sealed proposals, as many of