MARVIN MANDEL, Governor                                        1405

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 tut shall be so
worked out as to discharge the principal represented
by said certificates within fifteen (15) years from
the time of its issue; provided, however, that it
shall not be necessary to provide for the redemption
of any part of the principal represented by any
certificates for the first two (2) years from the time
of the issuance of said certificates.

(b) Resolutions authorizing 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:

(1)   The proportion of the total loan authorized
by this section which shall be issued at any
particular time.

(2)   The form of the certificate 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 issuance of
certificates in registered form, provisions for the
registration of any coupon certificates as to
principal of loan and for the reconversion into coupon
certificates of any certificates registered as to
principal.

(3)    The denomination or denominations of the
certificates to be issued at any particular time,
which may not be less than one hundred dollars ($100)
but may in sums of one hundred dollars ($100) or any
suitable multiple thereof, and the place or places of
payment of principal and interest thereof.

(4)   The rate and rates of interest of the
certificates to be issued at any particular time,
payable semiannually.

(5)   The date of the certificates issued at any
particular time and, within the limits prescribed by
Article III, § 34 of the Constitution of Maryland, the
redemption dates of said certificates.

The resolution authorizing the issuance of said
loan or any portion thereof shall set forth in detail
the dates when any of the certificates representing
said loan or any portion thereof are to be redeemed