1120                             Laws of Maryland                       Ch. 504

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-
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 not be less than One
Hundred Dollars ($100) but may be in sums of One Hundred Dol-
lars ($100) or any suitable multiple thereof, and the place of 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, payable semiannually.

(e)    The date of the certificates issued at any particular time,
and within the limits prescribed by 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 por-
tion 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. 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 Certifi-
cates of Indebtedness of the State in good and sufficient form
to aggregate the amount of four million dollars ($4,000,000), 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
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 Indebted-
ness 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