1612                              Laws of Maryland                       [Ch. 885

(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.

(d)    The rate of interest of the certificates to be issued at any
particular time not exceeding in any case 4% per annum, payable
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
Constitution 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 certif-
icates representing said loan or any portion thereof are to be re-
deemed and the amount to be redeemed upon such dates, respectively,
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 certif-
icates and every part thereof and the interest payable thereon shall
be and remain exempt from State, County and municipal 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 Sixteen Million Seven Hundred Fifty
Thousand Four Hundred Dollars ($16,750,400) EIGHTEEN MIL-
LION ONE HUNDRED SEVENTY TWO THOUSAND DOLLARS
($18,172,000), EIGHTEEN MILLION ONE HUNDRED EIGHTY
THOUSAND DOLLARS ($18,180,000), is evidence of such loan;
such Certificates of Indebtedness shall bear date as of the time of
their issue as provided in Section 1 of this Act. Each of said certifi-
cates shall be signed and countersigned in the manner prescribed 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 Indebted-
ness or any part thereof, shall be issued, in two newspapers pub-
lished 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