34                                 LAWS OF MARYLAND                         [CH. 16

issuance of certificates in registered form, provisions for the regis-
tration of any coupon certificates 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
Hundred 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 1/2% per annum, pay-
able 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 Con-
stitution 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
certificates representing said loan or any portion thereof are to
be redeemed and the amount to be redeemed upon such dates, re-
spectively, according to the serial annuity plan applied to said loan
as a whole or to the group of certificates evidencing a part of 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 certificates and every part thereof and the interest payable
thereon shall be and remain exempt from State, County and muni-
cipal taxation.

SEC. 2. And be it further enacted, That the Board of Public Works
is hereby authorized and directed to have prepared proper Certifi-
cates of Indebtedness of the State in good and sufficient form to
aggregate the amount of Nine Million Four Hundred Eighty-Eight
Thousand Eight Hundred Dollars ($9,488,800) as evidence of such
loan; such Certificates of Indebtedness shall bear date of as the time
of their issue as provided in Section 1 of this Act. Each of said
certificates shall be signed and countersigned in the manner pre-
scribed by Section 3 of Article VI of the Maryland Constitution.

SEC. 3. And be it further enacted, That in order to provide for the
selling of the Certificates of Indebtedness aforesaid, 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 Indebtedness 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 In-
debtedness shall be adjusted with the purchaser thereof under such
regulations as may be made in the discretion of the Board of Public