BLAIR LEE III, Acting Governor

627

(g) To do all acts and things necessary or convenient
to carry out the powers granted by the provisions of §§
27K—27T, inclusive of this subtitle.

27M. Same—Bonds; certificates or other evidence of
indebtedness.

(a) Generally. -—The University of Maryland is hereby
authorized and empowered to provide, by resolution, from
time to time, for the issuance, in series, of its negotiable
bonds, certificates or other evidences of indebtedness
(hereinafter called bonds) for the purpose of paying all or
any part of the costs of one or more dormitories. The
principal and 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, and shall mature at such time or times, not
exceeding 40 years from their date or dates, as may be
determined by the University of Maryland. The bonds of
each issue may be made redeemable before maturity at the
option of the University of Maryland at such price or prices
and under such terms and conditions as may be fixed by the
University of Maryland prior to the issuance of the same.
The University of Maryland shall determine the form 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. The bonds shall bear the
manual or facsimile signature of the chairman or one of the
other members of the board of regents of said University and
the official seal of the University or a facsimile thereof
shall be affixed to said bonds, attested by the manual or
facsimile signature of the secretary or an assistant
secretary of said board of regents, provided that at least
one of said signatures with respect to each of said bonds
shall be a manual signature, and any coupons attached
thereto shall bear the facsimile signature of the chairman
of said board of regents. 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 bonds issued under the provisions of §§
27K—27T, inclusive, of this subtitle shall have and are
hereby declared to have all the qualities and incidents of
negotiable instruments under the Negotiable Instrument Law
of the State. The bonds may be issued in coupon or in
registered form, or both, as said board of regents 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. Said University may sell such bonds in such
manner, either at public or private sale, and for such price
or prices, as it may determine to be for the best interests