494                              Laws of Maryland                      [Ch. 179

(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 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
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 taxation
of every kind and nature whatsoever within this State by the State
of Maryland or by any of its political subdivisions, municipal cor-
porations, 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 Seventy-Four Million Four Hundred Sixty-Four Thou-
sand Dollars ($74,464,000) SEVENTY MILLION EIGHT HUN-
DRED SIXTY SEVEN THOUSAND ONE HUNDRED DOLLARS
($70,867,100) NINETY-FIVE MILLION FOUR HUNDRED THIR-
TY THOUSAND FIVE HUNDRED DOLLARS ($95,430,500), 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 Sec-
tion 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 dis-
cretion 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 adver-
tisement 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