THEODORE R. MCKELDIN, GOVERNOR 1319

hereby added to Article 89B of the Annotated Code of
Maryland (1951 Edition), title "State Roads", said new
sub-title to be "State Highway Construction Bonds, Second
Issue", to follow immediately after Section 162 of said
Article and said new sections to be designated Sections
162A, 162B, 162C, 162D, 162E, 162F, 162G and to read as
follows:

STATE HIGHWAY CONSTRUCTION BONDS,
SECOND ISSUE

162A. In order to finance, in part, (a) the rehabilita-
tion and reconstruction of substandard roads in the State
Highway System, both primary and secondary, to meet
present and future needs, and (b) the development and
construction in new location LOCATIONS of new roads
made mandatory by existing traffic demands, to become
parts of said primary and secondary systems of the State
Highway System, the State Roads Commission of Maryland
is hereby authorized and empowered, subject to the limita-
tions contained in Section 162B of this sub-title, AND SUB-
JECT TO THE APPROVAL OF THE BOARD OF PUB-
LIC WORKS, AS HEREINAFTER PROVIDED, at any
time and from time to time during the period beginning
with the effective date of this Section 162A and ending June
30, 1968, by resolution to borrow money and evidence said
borrowing by the issue of its serial maturity coupon bonds
in the form and manner prescribed by Section 162C of this
sub-title and to provide for the payment of the principal
and interest of said bonds from the taxes pledged thereto
by Section 162E of this sub-title.

162B. The bonds authorized by Section 162A of this sub-
title may be issued in one or more series as the Commission
may determine and each, PROVIDED THE ISSUE OF
EACH SERIES SHALL PRIOR TO SALE THEREOF
FIRST BE APPROVED BY RESOLUTION OF THE
BOARD OF PUBLIC WORKS. EACH such series shall bear
a separate series letter in the order of the alphabet, begin-
ning however with the letter next after the one designating
the last series of bonds issued pursuant to the authority of
Section 155 of this Article. The bonds authorized by Section
162A of this sub-title shall likewise be known as "State
Highway Construction Bonds" and shall be issued by the
Commission on behalf of the State of Maryland. All of said
bonds shall bear interest at a rate or rates not exceeding five
per centum (5%) per annum, payable semi-annually until
the respective maturities of said bonds in accordance with
appropriate coupons to be attached thereto. The bonds of