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LAWS OF MARYLAND

Ch. 427

Chapter 351 of the Acts of the General Assembly of
1974, as amended by Chapter 602 of the Acts of
the General Assembly of 1976 and Chapter 912 of
the Acts of the General Assembly of 1978

Section 1 and 7

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That chapter(s) of the Acts of the General
Assembly be repealed, amended, or enacted to read as
follows:

Chapter 351 of the Acts of 1974

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Board of Public Works is hereby
authorized and empowered to issue a State loan to be known
as the "Lyric Theater Renovation Loan of 1974," in the
aggregate amount of [$3,000,000] $4,000,000.

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 loan 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 bonds 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.