1650                             Laws of Maryland                      [Ch. 634

(D)    THE RATE OR RATES OF INTEREST ON THE BONDS
TO BE ISSUED AT ANY PARTICULAR TIME, PAYABLE SEMI-
ANNUALLY.

(E)    THE DATE OF THE CERTIFICATES ISSUED AT ANY
PARTICULAR TIME, AND WITHIN THE LIMITS PRESCRIBED
BY ARTICLE III, SECTION 34 OF THE CONSTITUTION 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 REPRE-
SENTING 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, IN-
CLUDING ANY PROFIT REALIZED IN THE SALE OR EX-
CHANGE THEREOF, SHALL AT ALL TIMES BE EXEMPT
FROM TAXATION OF EVERY KIND AND NATURE WHATSO-
EVER 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 prepared
proper Certificates of Indebtedness BONDS of the State in good and
sufficient form to aggregate the amount of Fifty TEN Million Dollars
($50,000,000 $10,000,000) as evidence of such loan; such Certificates
of Indebtedness BONDS shall bear date as of the time of their issue
as provided in Section 1 of this Act. Each of said certificates BONDS
shall be signed and countersigned in the manner prescribed by Sec-
tion 3 of Article VI of the Maryland Constitution.

Sec. 3. And be it further enacted, That in order to provide for the
selling of the Certificates of Indebtedness aforesaid, to be issued under

the provisions of this Act, the Board of Public Works is hereby

directed to advertise once before the said Certificates of Indebtedness
on 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 or
Certificates of Indebtedness issued under the provisions 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 or Certificates of Indebtedness and the time of sale
and delivery of and payment for said bonds or Certificates of In-
debtedness shall be adjusted with the purchaser thereof under such
regulations as may be made in the discretion of the Board of Public
Works; and upon the day mentioned in said advertisement as the
date for opening the bids for the proposals thereby called for, they
shall receive such sealed proposals for the purchase of as many of
such bonds or Certificates of Indebtedness as may be mentioned or
designated in said advertisement; and on the opening of such sealed
proposals, as many of said bonds or Certificates of Indebtedness