524                              Laws of Maryland                      [Ch. 180

"FRIENDSHIP INTERNATIONAL AIRPORT AUTHORITY",
AND TO CHANGE THE TITLE OF SAID ARTICLE 62C TO
"MARYLAND AIRPORT ZONING BOARD", PROVIDING
GENERALLY FOR THE POWERS AND DUTIES OF CER-
TAIN STATE AGENCIES AND OFFICERS WITH RESPECT
TO FRIENDSHIP INTERNATIONAL AIRPORT, PROVIDING
FOR THE ABOLITION OF THE FRIENDSHIP INTER-
NATIONAL AIRPORT AUTHORITY, PROVIDING GENER-
ALLY FOR THE TRANSFER AND FUTURE STATUS AND
OPERATION OF FRIENDSHIP INTERNATIONAL AIRPORT,
AND REPEALING CHAPTER 587 OF THE LAWS OF 1969.

Section 1. Be it enacted by the General Assembly of Maryland,
That the Board of Public Works is hereby authorized and directed
EMPOWERED to issue a State loan to be known as the "Friendship
International Airport Loan of 1972," in the aggregate sum of twenty-
two million dollars ($22,000,000) AMOUNT OF THIRTY-SIX
MILLION DOLLARS ($36,000,000).

The certificates of indebtedness (hereinafter called "bonds") evi-
dencing said loan may be issued all at one time or, in groups, from
time to time, as hereinafter provided. All of said bonds evidencing
said loan, or any group thereof, shall be issued according to a serial
maturity plan to be established in the resolution authorizing the
issuance of said loan or any portion thereof, which plan need not be
in equal par amounts or in consecutive annual installments but shall
be so worked out as to discharge the principal represented by said
bonds within fifteen (15) years from the time of its issue; provided,
DATE OF ISSUE, however, that it IT shall not be necessary to pro-
vide for the redemption PAYMENT of any part of the principal
represented by any OF SAID bonds for the first two (2) years
from the time of the issuance of said bonds DATE OF ISSUANCE.

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 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 registered form, provisions COUPON FORM AND
for the registration of any coupon bonds as to principal of loan and

for the reconversion into coupon bonds of any bonds registered 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 ONE HUNDRED DOLLARS ($100) but may be in sums of
one hundred dollars 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 particular 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 redemption PAYMENT dates of said bonds.