MARVIN MANDEL, Governor

2133

COMPTROLLER AND EXPENDED, UPON APPROVAL BY THE BOARD
OF PUBLIC WORKS, FOR THE FOLLOWING PUBLIC PURPOSES,
INCLUDING ANY APPLICABLE ARCHITECTS' AND ENGINEERS'
FEES (HERE STATE THE PURPOSE OR PURPOSES TO WHICH
THE PROCEEDS OF THE BONDS ARE TO BE APPLIED).

(3)   THERE IS HEREBY LEVIED AND IMPOSED AN
ANNUAL STATE TAX ON ALL ASSESSABLE PROPERTY IN THE
STATE IN RATE AND AMOUNT SUFFICIENT TO PAY THE
PRINCIPAL OF AND INTEREST ON THE BONDS AS AND WHEN
DUE AND UNTIL PAID IN FULL, SUCH PRINCIPAL TO BE
DISCHARGED WITHIN FIFTEEN YEARS OF THE DATE OF ISSUE
OF THE BONDS.

(4)    THIS ACT SHALL TAKE EFFECT JUNE 1, 19...

."

(B) AN ENABLING ACT MAY CONTAIN ANY OTHER
PROVISIONS DEEMED APPROPRIATE TO THE NATURE AND PURPOSES
FOR WHICH BONDS ARE TO BE SOLD, INCLUDING SUPPLEMENTAL
PROVISIONS FOR THE PAYMENT, IN PART OR IN WHOLE, OF
PRINCIPAL AND INTEREST PRIMARILY FROM FUNDS OR SOURCES OF
FUNDS OTHER THAN A STATE TAX ON ASSESSABLE PROPERTY.

21.

(A)     THE BONDS MAY BE ISSUED AT ONE TIME OR IN
GROUPS FROM TIME TO TIME, PURSUANT TO ONE OR MORE
RESOLUTIONS ADOPTED BY A MAJORITY OF THE BOARD OF PUBLIC
WORKS.

(B)     THE BOARD HAS COMPLETE AUTHORITY AND
DISCRETION BY RESOLUTION TO FIX AND DETERMINE WITH
RESPECT TO THE BONDS OF ANY ISSUE:

(1)     IF THE BONDS ISSUED TO EVIDENCE A
PARTICULAR LOAN ARE TO BE CONSOLIDATED AND SOLD AS A
SINGLE ISSUE OR AS PART OF A SINGLE ISSUE UNDER SECTION
2B OF ARTICLE 31;

(2)    THE DATE AND MANNER OF ISSUE;

(3)     THE DATE OR DATES AND AMOUNT OR AMOUNTS
OF MATURITY OF THE BONDS, WHICH NEED NOT BE IN EQUAL PAR
AMOUNTS OR IN CONSECUTIVE ANNUAL INSTALLMENTS, PROVIDED
THAT NO BOND OF ANY ISSUE MAY MATURE LATER THAN 15 YEARS
FROM THE DATE OF ITS ISSUE;

(4) THE FORM (WHICH MAY INCLUDE PROVISIONS
FOR ISSUANCE IN COUPON FORM AND FOR THE REGISTRATION OF
COUPON BONDS AS TO PRINCIPAL ONLY), DENOMINATION, MANNER
OF EXECUTION, AND PLACE OR PLACES OF PAYMENT OF THE
PRINCIPAL OF AND INTEREST ON THE BONDS;