MARVIN MANDEL, Governor                            1053

State.

The bonds shall bear the manual or facsimile
signature of the chairman or one of the other members of
the [Commission] AUTHORITY and the official seal of the
[Commission] AUTHORITY or a facsimile thereof shall be
affixed to [said] THE bonds, attested by the manual or
facsimile signature of the secretary OF THE AUTHORITY or
an assistant secretary [of the Commission] SPECIALLY
DESIGNATED BY THE CHAIRMAN FOR THAT PURPOSE, provided
that at least one of said signatures with respect to each
of [said] THE bonds shall be a manual signature, and any
coupons attached thereto shall bear the facsimile
signature of the chairman of the [Commission] AUTHORITY,
In case any officer whose signature or a facsimile of
whose signature shall appear on any bonds or coupons
shall cease to be such officer before the delivery of
such bonds, such signatures or such facsimile shall
nevertheless be valid and sufficient for all purposes the
same as if he had remained in office until such delivery.

All bonds issued under the provisions of this
subtitle shall have and are hereby declared to have all
the qualities and incidents of negotiable instruments
under the negotiable instruments law of the State. The
bonds may be issued in coupon or in registered form or
both, as the [Commission] AUTHORITY may determine, and
provision may be made for the registration of any coupon
bonds as to principal alone and also as to both principal
and interest, and for the reconversion into coupon bonds
of any bonds registered as to both principal and
interest.

The [Commission] AUTHORITY may sell such bonds in
such manner, either at public or private sale, and for
such price, as it may determine to be for the best
interests of the State[[, but no such sale shall be made
at price so low as to require the payment of interest on
the money received therefor at more than [seven and
one—half per centum per annum] TEN PERCENT computed with
relation to the absolute maturity of the bonds in
accordance with standard tables of bond values,
excluding, however, from such computation the amount of
any premium to be paid on redemption of any bonds prior
to maturity.]].

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
is hereby declared to be an emergency measure and
necessary for the immediate preservation of the public
health and safety and having been passed by a yea and nay
vote supported by three—fifths of all the members elected
to each of the two Houses of the General Assembly, the
same shall take effect from the date of its passage.