J. MILLARD TAWES, GOVERNOR                          1631

SUM ONE HUNDRED AND TWENTY-FIVE THOUSAND DOL-
LARS ($125,000.00) IS FOR THE PURPOSE OF AIDING IN
THE CONSTRUCTION OF JAIL FACILITIES AT THE MONT-
GOMERY COUNTY DETENTION FARM, ROCKVILLE, MARY-
LAND, AND ONE HUNDRED AND TWENTY-FIVE THOU-
SAND DOLLARS ($125,000.00) IS FOR THE PURPOSE OF
AIDING IN THE CONSTRUCTION OF JAIL FACILITIES IN
ANNE ARUNDEL COUNTY, AND FIVE THOUSAND DOL-
LARS ($5,000.00) IS FOR THE PURPOSE OF AIDING IN THE
CONSTRUCTION OF AN ADDITION TO THE WASHINGTON
COUNTY JAIL, HAGERSTOWN, MARYLAND, AND PROVID-
ING GENERALLY FOR THE ISSUANCE AND SALE OF CER-
TIFICATES 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 "Montgomery "County Jail
Loan of 1961", in the aggregate amount of One Hundred Twenty five
Thousand Dollars ($125,000.00). TWO HUNDRED AND FIFTY-
FIVE THOUSAND DOLLARS ($255,000.00).

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 certificates 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 em-
powered to, pass a resolution or resolutions from time to time, deter-
mining 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 any 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 regis-
tration 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 ($100.00) but may be in sums of One Hundred Dollars
($100.00) 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 II, Section 34 of the Consti-
tution of Maryland the redemption dates of said certificates.