620                                   LAWS OF MARYLAND                         [CH. 434

(f)   to receive and accept from the United States of America or
any agency thereof grants for or in aid of the construction of any
dormitory or any part thereof, and to receive and accept aid or
contributions from any source of either money, property, labor or
other things of value, to be held, used and applied only for the pur-
poses for which such grants or contributions may be made; and

(g)   to do all acts and things necessary or convenient to carry out
the powers granted by the provisions of Sections 259K—259T, in-
clusive, of this subtitle.

259M.

(a) The University of Maryland is hereby authorized and em-
powered to provide, by resolution, from time to time, for the issuance,
in series, of its negotiable bonds, certificates or other evidences of
indebtedness (hereinafter called bonds) for the purpose of paying
all or any part of the costs of one or more dormitories. The principal
and interest on such bonds shall be payable solely from the funds
herein provided for such payment. The bonds of each issue shall be
dated, shall bear interest at such rate or rates, and shall mature at
such time or times, not exceeding 40 years from their date or dates,
as may be determined by the University of Maryland. The bonds of
each issue may be made redeemable before maturity at the option
of the University of Maryland at such price or prices and under
such terms and conditions as may be fixed by the University of
Maryland prior to the issuance of the same. The University of
Maryland shall determine the form of the bonds, including any
interest coupons to be attached thereto, and shall fix the denomi-
nation or denominations of the bonds and the place or places of pay-
ment of principal and interest which may be at any bank or trust
company within or without the State. The bonds shall bear the
manual or facsimile signature of the chairman or one of the other
members of the Board of Regents of said University and the official
seal of the University or a facsimile thereof shall be affixed to said
bonds, attested by the manual or facsimile signature of the secretary
or an assistant secretary of said Board of Regents, provided that
at least one of said signatures with respect to each of said bonds
shall be a manual signature, and any coupons attached thereto shall
bear the facsimile signature of the chairman of said Board of Regents.
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. All bonds issued
under the provisions of Sections 259K—259T, inclusive, of this
subtitle shall have and are hereby declared to have all the qualities
and incidents of negotiable instruments under the Negotiable In-
strument Law of the State. The bonds may be issued in coupon or
in registered form, or both, as said Board of Regents may determine,
and provision may be made for the registration of any coupon bonds
as to principal alone and also as to both principal and interest, and
for the reconversion into coupon bonds of any bonds registered as
to both principal and interest. Said University may sell such bonds
in such manner, either at public or private sale, and for such price
or prices, as it may determine to be for the best interests of the
State.