1402                             Laws of Maryland                      [Ch. 664

represented by any certificates for the first two (2) years from the
time of the issuance 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 cer-
tificates representing said loan or any portion thereof are to be re-
deemed and the amount to be redeemed upon such dates, respectively.
[, according to the serial annuity plan applied to said loan as a whole
or to the group of certificates evidencing a part of said loan issued
at a particular time, as the case may be] Said loan and certificates
and every part thereof and the interest payable thereon shall be
and remain exempt from State, County and municipal taxation.

Chapter 709 of the Acts of 1965
1.

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] 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 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 certifi-
cates for the first two (2) years from the time of the issuance of said
certificates.

The resolution authorizing the issuance of said loan or any portion
thereof [will] 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, respec-
tively. [, according to the serial annuity plan applied to said loan
as a whole or to the group of certificates evidencing a part of said
loan issued at a particular time, as the case may be] Said loan and
certificates and every part thereof and the interest payable thereon
[are] shall be and [will] remain exempt from State, county and
municipal taxation.

Chapter 743 of the Acts of 1965
1.

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] 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 install-
ments but shall be so worked out as to discharge the principal repre-
sented 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.