1618                             Laws of Maryland                      [Ch. 624

represented by any OF said bonds for the first two (2) years from
the date of issuance.

The Board of Public Works 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 particular time.

(b)    The form of the bond representing the loan or part thereof
so authorized to be issued at any particular time, including any
interest coupons to be attached thereto, and provisions for the issu-
ance 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 thereon.

(d)    The rate or rates of interest of ON 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 Consti-
tution 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 empowered to have prepared proper bonds
of the State in good and sufficient form to aggregate the amount of
Three Million Dollars ($3,000,000), 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 counter-
signed 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 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 provisions of
this Act, under such procedures as may be adopted DETERMINED