940                                 Laws of Maryland                         [Ch. 560

(e) If the proceeds of the revenue bonds of any series issued under
the provisions of this section, by reason of increased construction
costs or error in estimates or otherwise, shall be less than the amount
required for the purpose for which such bonds are authorized, addi-
tional bonds may in like manner be issued to provide the amount of
such deficiency and shall be deemed to be of the same issue and shall
be entitled to payment from the same fund without preference or
priority of the bonds first issued. If the proceeds of such bonds shall
exceed the amount so required, such excess shall be deposited to the
credit of the sinking fund for such bonds.

563C. Provisions Applicable to Bonds, (a) The Commission shall
determine the form of the bonds of each series issued under the pro-
visions of this law, including any interest coupons to be attached
thereto, the date of the bonds, the denomination or denominations of
the bonds, and the place or places of payment of principal and in-
terest, which may be at any bank or trust company within or without
the State of Maryland. The bonds of each such series may be made
redeemable before their maturity or maturities, at the option of the
Commission, at such price or prices and under such terms and con-
ditions as may be fixed by the Commission prior to the issuance of
the bonds.

(b)  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 nevertheless be valid and sufficient for all purposes
the same as if he had remained in office until such delivery. Not-
withstanding any other provision of this law or any recitals in any
bonds issued under the provisions of this law, all such bonds shall be
deemed to be negotiable instruments under the laws of the State. The
bonds may be issued in coupon or in registered form or both, as the
Commission may determine, and provision may be made for the regis-
tration of any coupon bonds as to principal alone and also as to both
principal and interest, for the reconversion into coupon bonds of any
bonds registered as to both principal and interest, and for the inter-
change of coupon and registered bonds.

(c)   The bonds of each series issued under the provisions of this law
shall be exempt from the provisions of Sections 32, 33 and 34 of
Article 31 of the Annotated Code of Maryland (1951 Edition, as
amended), and the Commission may sell such bonds in such manner,
either at public or at private sale, and for such price as it may deter-
mine, but no such sale of revenue bonds shall be made at a price so
low as to require the payment of interest on the money received there-
for at more than five per centum (5%) per annum, computed with
relation to the absolute maturity of the bonds in accordance with
standard tables of bond values, excluding, however, from such compu-
tation the amount of any premium to be paid on redemption of any
bonds prior to maturity.

(d)  Prior to the preparation of definitive bonds, the Commission
may, under like restrictions, issue interim receipts or temporary
bonds, with or without coupons, exchangeable for definitive bonds
when such bonds shall have been executed and are available for de-
livery. The Commission may also provide for the replacement of any
bonds which shall become mutilated or shall be destroyed or lost.