J. MILLARD T AWES, Governor 447
CHAPTER 130
(House Bill 11)

AN ACT to authorize the creation of a State debt in the aggregate
amount of Two Million Four Hundred Thousand Dollars ($2, 400, -
000), the proceeds thereof to be used for certain planning (includ-
ing services of engineers, architects and consultants), construction,
reconstruction, furnishing and equipping of a new hospital, and
of new hospital facilities, including, if necessary, the acquisition of
a new site, and including all other proper expenditures in con-
nection therewith for the hospital in Baltimore City known general-
ly as Provident Hospital whether or not the new hospital retains
the same name; and providing generally for the issue and sale for
certificates of indebtedness evidencing such loan.

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 "Provident Hospital Loan of
1962" in the aggregate sum of Two Million Four Hundred Thousand
Dollars ($2, 400, 000).

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 certifi-
cates 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 part
thereof so authorized to be issued at any particular time, including
any interest coupons to be attached thereto, and provisions for the
issuance of certificates in registered form, provisions; for the
registration 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 Hun-
dred 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.

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.