Marvin Mandel, Governor                         717

ance of bonds in coupon or in registered form or both, and provi-
sions for the registration of the principal only of bonds having
coupons attached, and provisions for the reconversion into coupon
bonds of any bonds registered as to both principal and interest.

(B) THE FORM OF THE BOND REPRESENTING THE LOAN
OR PART THEREOF SO AUTHORIZED TO BE ISSUED AT
ANY PARTICULAR TIME, INCLUDING ANY INTEREST COU-
PONS TO BE ATTACHED THERETO, AND PROVISIONS FOR
THE ISSUANCE OF BONDS IN COUPON FORM AND FOR THE
REGISTRATION OF COUPON BONDS AS TO PRINCIPAL
ONLY.

(c)  The denomination or denominations of the bonds 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. THEREON.

(d)  The rate or rates of interest of the bonds to be issued at any
time, payable semi-annually.

(e)  The date of the bonds issued at any particular time, and
within the limits prescribed by Article III, Section 34 of the Con-
stitution of Maryland, the payment dates of said bonds.

The resolution authorizing the issuance of said loan or any portion
thereof shall set forth in detail the dates when any of the bonds
representing said loan or any portion thereof are to be paid and the
amount to be paid upon such dates, respectively. The bonds issued
pursuant to this Act, their transfer, the interest payable thereon,
and any income derived therefrom including any profit realized in
the sale or exchange thereof, shall at all times be exempt from taxa-
tion of every kind and nature whatsoever within this State by the
State of Maryland or by any of its political subdivisions, municipal
corporations, or public agencies of any kind.

Sec. 2. And be it further enacted, That the Board of Public
Works is hereby authorized and directed EMPOWERED to have pre-
pared proper bonds of the State in good and sufficient form to aggre-
gate the amount of Fifteen Million Dollars ($15,000,000), as evidence
of such loan; such bonds shall bear date as of the time of their issue
as provided in Section 1 of this Act. Each of said bonds shall be
signed and countersigned in the manner prescribed by Section 3 of
Article VI of the Maryland Constitution.

Sec. 3. And be it further enacted, That in order to provide for
the sale of said bonds, the Board of Public Works is hereby directed
to advertise once before the said bonds or any part thereof shall
be issued in two newspapers published in the City of Baltimore and
in such other manner as the Board of Public Works in its discretion
may determine, that the Treasurer of this State will be in readiness
at a time when WITHIN twenty (20) days after the expiration of
said notice to receive bids at such place or places as may be named
in said respective advertisements for bonds issued under the provi-
sions of this Act, under such regulations as may be made in the
discretion of the Board of Public Works; and the accrued interest
between the date of the bonds and the date of delivery of and the
payment for said bonds shall be adjusted with the purchaser thereof