Theodore R. McKeldin, Governor                  1593

provided further that the powers herein contained and conferred in
this Paragraph (5) shall not be exercised nor applicable to the ac-
quisition of any site for the establishment or construction of said
market, nor shall said market be established or constructed unless
the site therefor shall have been first approved by the Board of Esti-
mates of the City of Baltimore.

8. (BONDS.) THE AUTHORITY SHALL HAVE POWER
AND IS HEREBY AUTHORIZED AT ONE TIME OR FROM
TIME TO TIME TO PROVIDE BY RESOLUTION FOR THE IS-
SUANCE OF NEGOTIABLE BONDS OF THE AUTHORITY IN
AN AMOUNT NOT TO EXCEED TWO MILLION DOLLARS ($2,-
000,000.00) IN THE AGGREGATE, FOR THE PURPOSE OF PAY-
ING ALL OR A PART OF THE COST OF THE MARKET.

THE BONDS SHALL BE DATED, SHALL BEAR INTEREST
AT SUCH RATE OR RATES NOT EXCEEDING SIX PER
CENTUM PER ANNUM, PAYABLE SEMI-ANNUALLY, AND
SHALL MATURE AT SUCH TIME OR TIMES NOT EXCEEDING
FIFTEEN (15) YEARS FROM THE DATE OR DATES OF THEIR
RESPECTIVE ISSUES AS MAY BE DETERMINED BY THE
AUTHORITY, AND MAY BE MADE REDEEMABLE BEFORE
MATURITY, AT THE OPTION OF THE AUTHORITY, AT SUCH
PRICE OR PRICES AND UNDER SUCH TERMS AND CONDI-
TIONS AS MAY BE FIXED BY THE AUTHORITY PRIOR TO
THE ISSUANCE OF THE BONDS. THE PRINCIPAL OF AND
THE INTEREST ON SUCH BONDS MAY BE MADE PAYABLE
IN ANY LAWFUL MEDIUM AND SHALL BE PAYABLE SOLE-
LY FROM THE FUNDS PROVIDED BY THIS ACT FOR SUCH
PAYMENT. THE AUTHORITY SHALL DETERMINE THE
FORM OF THE BONDS, INCLUDING ANY INTEREST COU-
PONS TO BE ATTACHED THERETO, THE MANNER OF EXE-
CUTING THE BONDS, THE DENOMINATION OR DENOMINA-
TIONS OF THE BONDS, AND THE PLACE OR PLACES OF
PAYMENT OF PRINCIPAL AND INTEREST THEREOF,
WHICH MAY BE A BANK OR TRUST COMPANY WITHIN OR
WITHOUT THE STATE; PROVIDED THAT SAID BONDS
SHALL BE EXECUTED ON BEHALF OF THE STATE OF
MARYLAND BY THE MANUAL OR FACSIMILE SIGNATURE
OF THE STATE TREASURER AND THE MANUAL OR FAC-
SIMILE COUNTER-SIGNATURE OF THE STATE COMP-
TROLLER. IN CASE ANY OFFICER WHOSE SIGNATURE OR
FACSIMILE THEREOF SHALL APPEAR ON ANY BONDS OR
COUPONS SHALL CEASE TO BE SUCH OFFICER BEFORE
THE DELIVERY OF SUCH BONDS, SUCH SIGNATURE OR
FACSIMILE THEREOF SHALL NEVERTHELESS BE VALID
AND SUFFICIENT FOR ALL PURPOSES THE SAME AS IF HE
HAD REMAINED IN OFFICE UNTIL SUCH DELIVERY. ALL
BONDS ISSUED UNDER THE PROVISIONS OF THIS ACT
SHALL HAVE AND ARE HEREBY DECLARED TO HAVE, AS
BETWEEN SUCCESSIVE HOLDERS, ALL THE QUALITIES
AND INCIDENTS OF NEGOTIABLE INSTRUMENTS UNDER
THE NEGOTIABLE INSTRUMENTS LAW OF THE STATE.
PROVISIONS MAY BE MADE FOR THE REGISTRATION OF
ANY OF THE BONDS IN THE NAME OF THE OWNER AS TO
PRINCIPAL ALONE AND ALSO AS TO BOTH PRINCIPAL AND
INTEREST, AND FOR THE ISSUANCE OF NEW COUPON