1164                             Laws of Maryland                       Ch. 526

execute the bonds on behalf of the Department), and the place or
places of payment thereof and the interest thereon, which may be at
any bank or trust company within or without this State; (v) the
terms and conditions of the public sale of the bonds; (vi) the form
of notice of sale, which shall outline those terms and conditions;
(vii) the form of advertisement, which shall be published at least
once in a newspaper having a general circulation in Baltimore City
and also at least once in a journal having a circulation among banks
and investment bankers, and at least one such publication of which
shall be made not less than 10 days before the sale of bonds; (viii)
whether such bonds or any part thereof shall be made redeemable
before maturity and, if so, upon what terms, conditions and prices;
and (ix) any other matter relating to the form, terms, conditions,
issuance, sale and delivery of the bonds.

5.    Provisions applicable to Consolidated Transportation Bonds.
With respect to any and all Consolidated Transportation Bonds:

(a)    In case any officer whose signature or a facsimile of whose
signature appears on any bonds or any coupons shall cease to be such
officer before the delivery of such bonds, such signature or such fac-
simile shall nevertheless be valid and sufficient for all purposes the
same as if he had remained in office until such delivery.

(b)    Notwithstanding any other provision of law or any recitals
in any bonds, all such bonds shall be deemed to be negotiable instru-
ments under the laws of this State.

(c)    The bonds may be issued in coupon or in registered form or
both, and provision may be made for the registration of the principal
only of bonds having coupons attached, and for the reconversion of
bonds into coupon form if any such bonds have been registered as to
both principal and interest. Provision may also be made for the
replacement of bonds which become mutilated or are lost or
destroyed.

(d)    The bonds, and the issuance and sale thereof, shall be exempt
from the provisions of Sections 9, 10 and 11 of Article 31 of the Code.

(e)    Any issue of bonds shall be approved prior to sale by resolu-
tion of the Board of Public Works.

6.    Refunding bonds.

The Department is hereby further authorized and empowered,
from time to time, to issue its refunding bonds, upon resolution of
the Secretary, for the purpose of refunding any bonds issued under
this subheading or any bonds of prior issues. The powers granted in
this subheading with respect to the issuance of bonds, and the limita-
tions on such powers, shall be applicable to the issuance of refunding
bonds. The proceeds of the sale of any such refunding bonds shall be
segregated and set apart by the State Treasurer as a separate trust
fund to be used solely for the purpose of paying the purchase or
redemption prices of the bonds to be refunded.

7.    Interim certificates and bond anticipation notes.

The Department is further authorized and empowered to provide,
by resolution of the Secretary: (i) for the issuance, prior to the
preparation of definitive bonds, of interim certificates or temporary