1742                                   LAWS OF MARYLAND                              Ch. 620

time, for the issuance of revenue bonds of the authority
for the purpose of paying the whole or any part of the

cost of any project. 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

authority, and may be made redeemable before maturity, at
the option of the authority, at such price or prices and
under such terms and conditions as may be fixed by the
authority prior to the issuance of the bonds. The

authority shall determine the form of the bonds,

including any interest coupons to be attached thereto,
and the manner of execution of the bonds, 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. 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. All revenue
bonds issued under the provisions of this subtitle shall
have and are hereby declared to have, as between
successive holders, all the qualities and incidents of
negotiable instruments under the negotiable instruments
law of the State of Maryland. The bonds may be issued in
coupon or in registered form, or both, as the 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 issuance of such
bonds shall not be subject to any limitations or
conditions contained in any other law, and the authority
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 authority and the
municipality to be served thereby [, 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
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
the redemption of any bonds prior to maturity].

SECTION 2. AND BE IT FURTHER ENACTED, That the
provisions of Article 23A, Section 34, as amended by
Chapter 350 of the Laws of Maryland, 1969, are declared
to have been expressly controlling relative to this Act,
notwithstanding any other provision of law, for Bonds
issued from and after July 1, 1969.

SECTION 3. AND BE IT FURTHER ENACTED, That if any