Marvin Mandel, Governor                        1169

General Assembly of 1969, AS SECTION 1 WAS AMENDED BY
CHAPTER 2 OF THE ACTS OF THE SPECIAL SESSION OF
DECEMBER 16, 1969, BE AND THEY ARE HEREBY RE-
PEALED AND RE-ENACTED, WITH AMENDMENTS, AND
THAT SECTIONS 6 AND 7 OF THE SAID CHAPTER 403, as
amended by Chapter 4 of the Acts of the Special Session of Decem-
ber 16, 1969, and as repealed and re-enacted AMENDED without
change by Chapter 702 of the Acts of 1970, and Chapter 730 of the
Acts of 1971, be and they are hereby repealed and re-enacted, with-
out change, AND ALL to read as follows:

1.

THAT THE BOARD OF PUBLIC WORKS IS HEREBY AU-
THORIZED AND DIRECTED TO ISSUE A STATE LOAN TO
BE KNOWN AS THE "OUTDOOR RECREATION LAND LOAN
OF 1969," IN THE AGGREGATE AMOUNT OF [SIXTY MIL-
LION DOLLARS ($60,000,000)] SEVENTY MILLION DOLLARS
($70,000,000). 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 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 BOARD OF PUBLIC WORKS SHALL, AND IS HEREBY
AUTHORIZED AND EMPOWERED TO PASS A RESOLUTION
OR RESOLUTIONS, FROM TIME TO TIME, DETERMINING
AND SETTING FORTH:

(A)  THE PROPORTION OF THE TOTAL LOAN AUTHORIZED
BY THIS ACT WHICH SHALL BE ISSUED AT ANY PARTICU-
LAR TIME.

(B)   THE FORM OF THE CERTIFICATE REPRESENTING
THE LOAN OR ANY PART THEREOF SO AUTHORIZED TO
BE ISSUED AT ANY PARTICULAR TIME, INCLUDING ANY
INTEREST COUPONS TO BE ATTACHED THERETO, AND
PROVISIONS FOR THE ISSUANCE OF CERTIFICATES IN
REGISTERED FORM, PROVISIONS FOR THE REGISTRATION
OF ANY COUPON CERTIFICATES AS TO PRINCIPAL OF
LOAN AND FOR THE RECONVERSION INTO COUPON CER-
TIFICATES OF ANY CERTIFICATES REGISTERED AS TO
PRINCIPAL.

(C)   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