1414                               Laws of Maryland                        [Ch. 664

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 provide for
the redemption of any part of the principal represented by any cer-
tificates 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 500 of the Acts of 1969
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 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
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 587 of the Acts of 1969
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-