SPIRO T. AGNEW, Governor                     1673

(b)     The form of the certificate representing the loan or 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 registra-
tion 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 not be less than One
Hundred 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.

(d)     The rate or rates of interest of the certificates to be issued
at any particular time not exceeding in any case 4½% per annum,
payable semiannually.

(e)     The date of the certificates issued at any particular time,
within the limits prescribed by Article III, Section 34 of the Constitu-
tion 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, 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 parti-
cular 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 Forty One-Million Nine Hundred Sixty One Thousand
and Six Hundred Dollars ($41,961,600) FORTY SEVEN MILLION
SIX HUNDRED AND TWENTY SIX THOUSAND TWO HUN-
DRED DOLLARS ($17,626,200) FORTY-EIGHT MILLION NINE
HUNDRED THOUSAND SEVEN HUNDRED DOLLARS ($48,900,-
700), 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 un-
der 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 the
expiration of said notice to receive bids at such place or places as may
be named in said respective advertisements 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