1136                            LAWS OF MARYLAND                       CH. 593

(b)  "State Loans," as used in this Section 2B, are intended to in-
clude all loans of the State to the payment of which, both principal
and interest, the full faith and credit and taxing power of the State
are unconditionally pledged, even though another source or sources
of payment are primarily provided for the payment of said prin-
cipal and interest.

(c)  In the event that the Board of Public Works determines it
advisable to consolidate the sale of two or more loans or install-
ments thereof, as provided above, the aggregate issue of the various
certificates of indebtedness shall be known as the "State and Local
Facilities Loan," of the series and year in which the sale is author-
ized by the Board of Public Works, and each certificate shall be so
designated.

(d)   The consolidated "State and Local Facilities Loan," herein
authorized, shall be evidenced by certificates of indebtedness in such
number and amounts as to equal the total amount of the various
State Loans or installments thereof, which are being sold as a single
issue. Each of said certificates shall be signed and countersigned in
the manner prescribed in Section 3 of Article VI of the Maryland
Constitution.

(e)  In the adoption of the resolution authorizing the sale of each
"State and Local Facilities Loan," the Board of Public Works shall
also determine and set forth the following matters:

(1)  The form of the certificate representing the "State and Local
Facilities Loan" so authorized to be issued, including any interest
coupon to be attached thereto, and provisions for the issuance of
certificates in registered form, provisions for the registration of any
coupon certificates as to the principal of the loan and for the recon-
version into coupon certificates of any certificates registered as to
principal.

(2)   The denomination or denominations of the certificates to be
issued, which may not be less than One Hundred Dollars ($100.00)
but may be in sums of One Hundred Dollars ($100.00) or any suit-
able multiple thereof, and the place or places of payment of prin-
cipal and interest thereof.

(3)   The rate, or rates of interest of the certificates to be issued,
not exceeding in any case the lowest maximum interest rate or rates
permitted by any of the various State Enabling Acts authorizing
the State loans or installments thereof comprising the "State and
Local Facilities Loan" then being authorized.

(4)  The date of the certificates to be issued.

(5)  The dates when any of the certificates representing said Loan
are to be redeemed and the amount to be redeemed upon such dates,
respectively, according to the serial annuity plan applied to said
loan.

The Board of Public Works, in addition to providing for the
above matters, shall advertise once before the certificates of in-
debtedness 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 ex-