SPIRO T. AGNEW, Governor                      1547

(2)    The form of the certificates representing the loan or any
part 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 regis-
tered 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 ($100.00) 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.

(4) The rate or rates of interest of the certificates to be issued
at any particular time not exceeding in any case 5% per annum, pay-
able semi-annually.

(5) The date of the certificates issued at any particular time,
and within the limits prescribed in 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 portion
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, respectively, accord-
ing 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.

(c)    The Board of Public Works is hereby authorized and di-
rected to have prepared proper bonds or certificates of indebtedness
of the State in good and sufficient form to aggregate the amount
of Fifty Million Dollars ($50,000,000), as evidence of such loan;
such bonds or certificates of indebtedness shall bear date as of the
time of their issue as provided in subsection (b) of this section.
Each of said bonds or certificates shall be signed in the manner
prescribed by Section 3 of Article VI of the Constitution of Mary-
land.

(d)    In order to provide for the selling of the bonds or certificates
of indebtedness aforesaid, to be issued under the provisions of this
section, the Board of Public Works is hereby directed to advertise
once before the said bonds or 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 direction 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 sealed bids at such place or
places as may be named in said advertisements for bonds or certifi-
cates of indebtedness issued under the provisions of this section,
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 in-
debtedness shall be adjusted with the purchaser thereof under such
regulations as may be made in the discretion of the Board of Public