1464                           LAWS OF MARYLAND                      [CH. 679

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
Hundred 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 and rates 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 Con-
stitution 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
certificates representing said loan or any portion thereof are to be
redeemed and the amount to be redeemed upon such dates, respec-
tively 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 particular time, as the case may be. Said loan and
certificates 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
Certificates of Indebtedness of the State in good and sufficient form
to aggregate the amount of One Million Five Hundred Fifty-Five
Thousand Dollars ($1,555,000.00), as 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 certificates
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
Indebtedness, or any part thereof, shall be issued, in two newspapers
published 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 expiration of said notice to receive bids
at such place or places as may be named in said respective adver-
tisements for bonds or Certificates of Indebtedness issued under
the provisions of this Act, under such regulations 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
Certificates of Indebtedness shall be adjusted with the purchaser
thereof under such regulations as may be made 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 shall receive such sealed proposals for the