1658

LAWS OF MARYLAND

Ch. 608

distances above or below the tracks. Such overhead or
undergrade structures and appurtenances shall be
constructed only in accordance with such plans and
specifications and in accordance with such elevations or
distances above or below the tracks so approved by the
railroad or the Public Service Commission of Maryland as
the case may be. A copy of the plans and specifications
approved by the railroad or the Public Service Commission
of Maryland shall be filed as an exhibit with the
petition for condemnation. The cost of such overhead or
undergrade structures and appurtenances shall be paid by
the State Roads Commission as part of the cost of the
Expressway.

§7. [§ 147.] Revenue bonds.

(a) Bond issues authorized; terms and conditions of
bonds; form; signature; sale.— The Commission is
hereby authorized to provide, at one time or from time to
time, for the issuance of revenue bonds of the State for
the purpose of paying all or any part of the cost of the
Expressway or any part or parts thereof. The principal
of and the interest on such bonds shall be payable solely
from the funds herein provided for such payment. The
bonds of each issue shall be dated, shall bear interest
at such rate or rates not exceeding five per centum per
annum, shall mature at such time or times not exceeding
forty years from their date or dates, as may be
determined by the Commission, and may be made redeemable
before maturity, at the option of the Commission, at such
price or prices and under such terms and conditions as
may be fixed by the Commission prior to the issuance of
the bonds. The Commission shall determine the form and
the manner of execution of the bonds, including any
interest coupons to be attached thereto, and shall fix
the denomination or denominations of the bonds and the
place or places of payment of principal and interest,
which may be at any bank or trust company within or
without the State. 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 signature or such
facsimile shall nevertheless be valid and sufficient for
all purposes the same as if he had remained in office
until such delivery. The bonds may be issued in coupon
or in registered form, or both, as the Commission may
determine, and provisions 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, and for the interchange
of registered and coupon bonds. The Commission may sell
such bonds in such manner, either at public or at 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 a price so low as to require the payment of
interest on the money received therefor at more than five
per centum per annum, computed with relation to the