SPIRO T. AGNEW, Governor                        731

Sec. 13. And be it further enacted, That all laws or parts of
laws, public general or public local, inconsistent with the provisions
of this Act are hereby repealed to the extent of any such incon-
sistency.

Sec. 14. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved May 7, 1968.

CHAPTER 449
(Senate Bill 186)

AN ACT to authorize the creation of a State debt in the aggregate
amount of Eighteen Million Five Hundred Thousand TWENTY
MILLION Dollars ($18,500,000), ($20,000,000), the proceeds
thereof to be used for the purpose of providing the first payment
ON ACCOUNT on the purchase of Friendship International Air-
port by the State from the Mayor and City Council of Baltimore,
to provide for organizational expense of creating the Maryland
Airport Authority and continuing the planning of future develop-
ment of the facilities of said airport, to match payment of present
bonded indebtedness and repay the BALTIMORE City for com-
mitted capital improvements, and to provide for certain capital
improvement programs; and providing generally for the issue and
sale of Certificates of Indebtedness evidencing such loan.

Section 1. Be it enacted by the General Assembly of Maryland,
That the Board of Public Works is hereby authorized and directed
to issue a State loan, TO BE KNOWN AS THE FRIENDSHIP
INTERNATIONAL AIRPORT PURCHASE LOAN OF 1968, in the
aggregate sum of Eighteen Million Five Hundred Thousand Dollars
($18,500,000). TWENTY MILLION DOLLARS ($20,000,000).

The certificates evidencing said loan may be issued all at one time
or in groups, from time to time, as hereinafter provided. All of said
certificates evidencing said loan, or any group thereof, shall be issued
according to what is known as the serial annuity plan so worked out
as to discharge the principal represented by said certificates within
fifteen (15) years from the time of its issue; provided, however, that
it shall not be necessary to provide for the redemption of any part of
the principal represented by any certificates for the first two (2)
years from the time of the issuance of said certificates.

The Board of Public Works shall, and is hereby authorized and
empowered to, pass a resolution or resolutions, from time to time,
determining and setting forth:

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

(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 regis-