THEODORE R. MCKELDIN, GOVERNOR 643

said certificates and, generally, all matters incident or
necessary to the proper issuance, sale and delivery thereof.
Specifically, said ordinance shall fix and determine the
dates for payment of interest on said certificates, the
manner of executing said certificates and the coupons to
be attached thereto, if any, the denomination or denomina-
tions of said certificates and the place or places of pay-
ment of the principal and interest thereof, which may be
at any bank or trust company within or without the State
of Maryland. In case any officer whose signature shall
appear on any such certificate, or on the coupons attached
thereto, shall cease to be such officer before the delivery
thereof, such signature shall nevertheless be valid and
sufficient for all purposes, the same as if he had remained
in office until such delivery. It may be provided in any
such ordinance that the signatures or seal affixed to any
such certificates or coupons attached thereto, may be
printed, lithographed or engraved thereon. Said certifi-
cates may by any such ordinance be authorized in coupon
or in registered form, or both, and provisions may be made
for the registration of said certificates, having coupons
attached, as to principal alone and, also, as to principal
and interest, and for the reconversion of said certificates
into coupon form, if any of such certificates shall have been
registered as to both principal and interest.

SEC. 2. And be it further enacted, That any and all
certificates issued pursuant to the authority of this Act,
the interest payable thereon and the income derived there-
from in the hands of the holders thereof from time to time
shall be and is hereby declared to be exempt from State,
county and municipal taxation of every kind and nature
whatsoever in the State of Maryland.

SEC. 3. And be it further enacted, That the Council is
hereby authorized, empowered and directed to levy upon all
property subject to assessment for taxation at the full
municipal rate, ad valorem taxes, without limitation as to
rate or amount, for the purpose of providing funds to meet
the principal and interest maturities of the certificates
hereby authorized. Such taxes shall be levied notwith-
standing any other statutory limitation upon the powers of
the Council to levy ad valorem taxes or the rate or rates
at which such taxes may be levied. Said certificates shall
constitute, and they shall so recite, an irrevocable pledge
by the Council of its full faith and credit and its unlimited
taxing power hereby granted to the payment of the prin-
cipal and interest of said certificates as and when respec-