2676                                           LAWS OF MARYLAND                                    Ch. 912

authorized and empowered to issue a State loan to be known

as the "lyric Theater Renovation Loan of 1974," in the
aggregate amount of [Two Billion Five Hundred Thousand
Dollars ($2,500,000)] $3,000,000.

The certificates of indebtedness (hereinafter called
"bonds") evidencing said loan may be issued all at one time
or, in groups, from time to time, as hereinafter provided.

All of said bonds evidencing said loan, or any group

thereof, shall be issued according to a serial maturity plan
to be established in the resolution authorizing the issuance
of said lean or any portion thereof, which plan need not be
in equal par amounts or in consecutive annual installments
but shall be so worked out as to discharge the principal
represented by said tends within fifteen (15) years from the

date of issue. It shall not be necessary to provide for the

payment of any part of the principal represented by any of

said bonds for the first two (2) years from the date of

issuance.

The Board of Public Works is hereby authorized and

empowered to pass a resolution or resolutions, from time to
time, determining and setting forth;

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

(b) The form of the bond 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 bonds in coupon form and
for the registration of coupon bonds as to principal only.

(c) The denomination or denominations of the bonds to
be issued at any particular time, which may not be less than
One Hundred Dollars ($100) but may be in sums of One Hundred
Dollars ($100), or any suitable multiple thereof, and the

place or places of payment of principal and interest

thereon.

(d) The rate or rates of interest on the bonds to be
issued at any time, payable semi—annually.

(e) The date of the bonds issued at any particular

time, and within the limits prescribed by Article III,

Section 34 of the Constitution of Maryland, the payment

dates of said bonds.

The resolution authorizing the issuance of said loan or
any portion thereof shall set forth in detail the dates when

any of the bonds representing said loan or any portion

thereof are to be paid and the amount to be paid upon such

dates, respectively.__The bonds issued pursuant to this Act,

their transfer, the interest payable thereon, and any income
derived therefrom, including any profit realized in the sale

or exchange thereof, shall at all times be exempt from

taxation of every kind and nature whatsoever within this

State by the State of Maryland or by any of its political