SPIRO T. AGNEW, Governor                        727

(a)  The proportion of the total loan authorized by this Act which
shall be issued at any particular time;

(b)  The form of the certificates 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 regis-
tration 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 be not 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.

(d)  The rate or rates of interest of the certificates to be issued
at any particular time not exceeding in any case five percent (5%)
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 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 part of said loan issued at a par-
ticular 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
bonds or Certificates of Indebtedness of the State in good and suffi-
cient form to aggregate the amount of Twenty-five Million Dollars
($25,000,000.00), as evidence of such loan; such Certificates of
Indebtedness shall bear the date as of the time of their issue as
provided in Section 1 of this Act. Each of said bonds or certificates
shall be signed in the manner prescribed by Section 3 of Article VI
of the Constitution of Maryland.

Sec. 3. And be it further enacted, That in order to provide for
the selling of the bonds or 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 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 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 sealed 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 Works; and
the accrued interest between the date of the bonds or Certificates