1408                             Laws of Maryland                      [Ch. 664

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 par-
ticular 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 445 of the Acts of 1968
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
issuance of said certificates.

The resolution authorizing the issuance of said loan or any portion
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. [, 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 par-
ticular 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 448 of the Acts of 1968
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
issuance of said certificates.

The resolution authorizing the issuance of said loan or any portion
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. [, ac-
cording 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