1286                             LAWS OF MARYLAND                        [CH. 642

(2) 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 reg-
istration of any coupon certificates as to principal of loan and for
the reconversion into coupon certificates of any certificates registered
as to principal.

(3) The denomination or denominations of the certificates to be
issued at any particular time, which may not be 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.

(4) The rate OR RATES of interest of certificates to be issued at
any particular time not exceeding in any case five FOUR AND ONE-
HALF percentum (5) 4½% per annum, payable semi-annually.

(5) The date of the certificates issued at any particular time,
and within the limit prescribed by Article HI, Section 34 of the Con-
stitution of Maryland and redemption dates of said certificates.

The resolution authorizing the issuance of said loan or any portion
thereof will set forth in detail the dates when any of the certificates
representing said loan or any portion thereof are to be redeemed 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 issued at a partic-
ular time, as the case may be. Said loan and certificates and every
part thereof and the interest payable thereon are and will remain
exempt from State, county and municipal taxation.

(e)    The Board of Public Works is hereby authorized and directed
to have prepared proper certificates of indebtedness of the State in
good and sufficient form to aggregate the amount of Thirty Million
Dollars ($30,000,000) as evidence of such loan; such certificates of
indebtedness are dated as of the time of their issue as provided in
Subsection (c) of this Section. Each of said certificates is signed
and countersigned in the manner prescribed by Section 3 of Article
VI of the Maryland Constitution.

(f)    In order to provide for the selling of the certificates of in-
debtedness 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 indebtedness, or any part thereof, are issued,
in two newspapers published in the City of Baltimore and in such
other manner as the Board of Public Works in its discretion deter-
mines, 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 are named in said respective advertise-
ments for bonds or certificates of indebtedness issued under the pro-
visions of this act, under such regulation as may be made in the
discretion of the Board of Public Works; and the accrued interest
between the date of the bonds or certificates of indebtedness and the
time of sale and delivery of and payments for said bonds or certifi-
cates of indebtedness is adjusted in the discretion of the Board of
Public Works; and upon the day mentioned in said advertisement as
the day for opening the bids for the proposals thereby called for, they
will receive such sealed proposals for the purchase of as many of