Marvin Mandel, Governor                         315

terest coupons 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 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 directed EMPOWERED to have prepared
proper bonds of the State in good and sufficient form to aggregate
the amount of Three Hundred Million Dollars ($300,000,000.00), 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
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 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 determined in the discre-
tion 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 under such
procedures as may be determined in the discretion of the Board of
Public Works; and upon the day mentioned in said advertisement as
the date for opening the bids, they shall receive such sealed proposals
for the purchase of as many of such bonds as may be mentioned or
designated in said advertisement; and on the opening of such sealed
proposals, as many of said bonds as have been so bid for shall be
awarded by the Board of Public Works to the responsible bidder or