THEODORE R. MCKELDIN, GOVERNOR                       33

ment prepared by the State Roads Commission entitled "State High-
way System Study—Including Sufficiency Rating'⁹ dated February
1, 1958; provided, however, any rescheduling of construction projects
shall be within the mileage limitations hereinabove provided in this
section.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1,1958.

Approved April 4, 1958—11.30 a.m.

CHAPTER 16

(House Bill 9)

AN ACT to authorize the creation of a State Debt in the aggregate
amount of Nine Million Four Hundred Eighty-Eight Thousand
Eight Hundred Dollars ($9,488,800) the proceeds thereof to be
used for certain necessary buildings, construction, deferred mainte-
nance, and equipment purposes of this State, for acquiring cer-
tain land and providing generally for the issue and sale of Certifi-
cates of Indebtedness evidencing such loan, and modifying the pro-
visions of Section 7 of Chapter 266 of the Acts of 1955, and of
Section 7 of Chapter 532 of the Acts of 1957.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Board of Public Works is hereby authorized and directed
to issue a State loan to be known as the "General Construction Loan
of 1958", in the aggregate sum of Nine Million Four Hundred Eighty-
Eight Thousand Eight Hundred Dollars ($9,488,800).

The certificates evidencing said loan may be issued all at one time
or, in groups, from time to time, as hereinafter provided. All of said
certificates evidencing said loan, or any group thereof, shall be issued
according to what is known as the serial annuity plan so worked out
as to discharge the principal represented by said certificates within
fifteen (15) years from the time of its issue; provided, however,
that it shall not be necessary to provide for the redemption of any
part of the principal represented by any certificates for the first
two (2) years from the time of the issuance of said certificates.

The Board of Public Works shall, and is hereby authorized and
empowered to pass a resolution or resolutions, from time to time,
determining and setting forth:

(a)  The proportion of the total loan, authorized by this Act which
shall be issued at any particular time;

(b)  The form of the certificate representing the loan or any part
thereof so authorized to be issued at any particular time, including
any interest coupons to be attached thereto, and provisions for the

EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.