326                              Laws of Maryland                       Ch. 101

CHAPTER 768 OF THE ACTS OF 1968, Section 8 of Chapter
759 of the Acts of 1967 as SAID CHAPTER 759 WAS amended
by Chapter 334 of the Acts of 1969 AND CHAPTER 524 OF THE
ACTS OF 1969, Section 8 of Chapter 435 of the Acts of 1968, and
Section 8 of Chapter 409 of the Acts of 1969, AND MODIFYING
THE PROVISIONS OF SECTION 5 (P) (1) (G) OF CHAPTER
409 OF THE ACTS OF 1969.

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 "General Construction Loan
of 1970" in the aggregate sum of Fifty Million Five Hundred Thirty-
Six Thousand Dollars ($50,536,000) FIFTY-EIGHT MILLION NINE
HUNDRED SIXTY-THREE THOUSAND EIGHT HUNDRED
DOLLARS ($58,963,800).

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
as Serial Bonds providing for annual payments on principal and
interest, which payments may, but need not, be in equal amounts
each year and ACCORDING TO A SERIAL MATURITY PLAN TO
BE ESTABLISHED IN THE RESOLUTION AUTHORIZING THE
ISSUANCE OF SAID LOAN OR ANY PORTION THEREOF,
WHICH PLAN NEED NOT BE IN EQUAL PAR AMOUNTS OR
IN CONSECUTIVE ANNUAL INSTALLMENTS BUT SHALL BE
so worked out as to discharge the principal represented by said cer-
tificates 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-
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 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, 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 Consti-
tution of Maryland, the redemption dates of said certificates.