76                                   LAWS OF MARYLAND                          [CH. 39

any interest coupons to be attached thereto, and provisions for the
issuance of certificates in registered form, provisions for the regis-
tration of any coupon certificate as to principal of loan and for the
reconversion into coupon certificates of any certificates registered as
to principal.

(c)   The denomination or denominations of the certificates to be
issued at any particular time, which may be not less than One Hun-
dred Dollars ($100) but may be in sums of One Hundred 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 [3%] 4% 314% per
annum, payable semi-annually.

(e)   The date of the certificates issued at any particular time,
and within the limits prescribed by Article III, Section 34 of the
Constitution of Maryland, the redemption dates of said certificates.

The Resolution authorizing the issuance of said loan or any por-
tion thereof shall set forth in detail the dates when any of the certifi-
cates representing said loan or any portion thereof are to be re-
deemed and the amount to be redeemed upon such dates, respec-
tively, according to the serial annuity plan applied to said loans 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 taxa-
tion.

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