586                                    Laws of Maryland                            Ch. 247

(b) The Board of Public Works shall and is hereby authorized

and empowered to pass a resolution or resolutions from time to time

(B) THE BOARD OF PUBLIC WORKS SHALL AND IS
HEREBY AUTHORIZED AND EMPOWERED TO, PASS A RESO-
LUTION OR RESOLUTIONS, FROM TIME TO TIME, determining
and setting forth:

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

   (2) The form of the certificate representing the loan or part

thereof authorized to be issued at any particular time, including

interest coupons attached thereto, provisions for the issuance of cer-
tificates in registered form; provisions for the registration of any
coupon certificates as to principal of loan, and provisions for the
reconversion into coupon certificates of any certificates registered

as to principal.

(3) 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 dollars

($100) or any suitable multiple thereof, and the place or places of

payment of principal and interest thereof.

(2)    THE FORM OF THE CERTIFICATE REPRESENTING
THE LOAN OR PART THEREOF SO AUTHORIZED TO BE
ISSUED AT ANY PARTICULAR TIME, INCLUDING ANY IN-
TEREST COUPONS TO BE ATTACHED THERETO, AND PRO-
VISIONS FOR THE ISSUANCE OF CERTIFICATES IN REGIS-
TERED FORM, PROVISIONS FOR THE REGISTRATION OF
ANY COUPON CERTIFICATES AS TO PRINCIPAL OF LOAN
AND FOR THE RECONVERSION INTO COUPON CERTIFI-
CATES OF ANY CERTIFICATES REGISTERED AS TO PRIN-
CIPAL.

(3)    THE DENOMINATION OR DENOMINATIONS OF THE
CERTIFICATES TO BE ISSUED AT ANY PARTICULAR TIME,
WHICH MAY NOT BE LESS THAN ONE HUNDRED DOLLARS

"WATER QUALITY RESTORATION LOAN OF 1970," IN THE
AGGREGATE SUM OF FIVE MILLION DOLLARS ($5,000,000).
THE CERTIFICATES EVIDENCING SAID LOAN MAY BE IS-
SUED ALL AT ONE TIME OR, IN GROUPS, FROM TIME TO
TIME, AS HEREINAFTER PROVIDED. ALL OF SAID CERTIFI-
CATES EVIDENCING SAID LOAN, OR ANY GROUP THEREOF,
SHALL BE ISSUED ACCORDING TO A SERIAL MATURITY
PLAN TO BE ESTABLISHED IN THE RESOLUTION AUTHOR-
IZING 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 CERTIFICATES
WITHIN FIFTEEN (15) YEARS FROM THE TIME OF ITS
ISSUE; PROVIDED, however, that it shall not be necessary to pro-
vide for the redemption of any part of the principal represented by
any certificates for the first two (2) years from the time of the issu-
ance of said certificates.