652                               Laws of Maryland                        [Ch. 446

or part time basis shall be reasonably construed in the best interests
of the public.

6. (Revenue Bonds) — (a) The Authority shall have the power
and it is hereby authorized at one time or from time to time to pro-
vide by resolution for the issuance of negotiable revenue bonds,
certificates or other evidence of indebtedness for the purpose of
paying all or any part of the cost or purchase price of any one or
more of the projects provided for in this Act. The resolution author-
izing the issuance of such revenue bonds, certificates or other evi-
dence of indebtedness under the provisions of this Act or the trust
indenture hereinafter provided for, shall state the estimated cost
or purchase price of any project or projects involved, and the
revenue bonds, certificates or other evidence of indebtedness shall be
issued in such amount or amounts.

(b)   The principal and interest of such revenue bonds, certificates
or other evidence of indebtedness shall be payable solely from the
funds and revenues received by the Authority as provided in this
Act, and no tax, excise, or special assessment (other than permitted
under the terms of this Act) shall be levied for the payment of such
principal and interest.

(c)   The revenue bonds, certificates or other evidence of indebted-
ness of each issue shall be dated, shall bear interest at such rate or
rates not exceeding five per centum (5%) per annum, THE MAXI-
MUM LEGAL RATE PER ANNUM ALLOWABLE BY LAW, pay-
able semi-annually, and shall mature at such time or times, not exceed-
ing thirty (30) years from their date or dates, as may be determined
by the Authority. The bonds of each issue may be made redeemable
before maturity at the option of the Authority at such price or prices
and under terms and conditions as may be fixed by the Authority
prior to the issuance of the bonds. The Authority shall determine the
form of the bonds, including any interest coupons to be attached
thereto, and shall fix the denomination or denominations of the bonds
and the place or places of payment of principal and interest which
may be at any bank or trust company within or without the State.
The payment of principal and interest of the bonds hereby author-
ized may be made in any lawful medium. The Authority shall deter-
mine the manner of executing the bonds which may be by facsimile
signature of its Chairman, and the manner of executing the interest
coupons attached thereto which also may be by facsimile signature
of its Chairman; the official seal of the Authority shall be affixed
to the bonds and they shall be attested by its Secretary. In case any
officer whose signature or a facsimile of whose signature shall appear
on any bonds or coupons shall cease to be such officer before the
delivery of such bonds, such signature or such facsimile shall never-
theless be valid and sufficient for all purposes the same as if he had
remained in office until such delivery.

(d)  All revenue bonds, certificates or other evidence of indebted-
ness issued under the provisions of this Act shall have and are hereby
declared to have all the qualities and incidents of negotiable instru-
ments under the negotiable instruments law of this State.

(e)  The revenue bonds hereby authorized may be issued in coupon
or in registered form, or both, as the Authority may determine, and
provision may be made for the registration of any coupon revenue