HARRY HUGHES, Governor

2149

attached thereto, and provisions for the issuance of
certificates in registered form, provisions for the
registration of any coupon certificates as to principal of
loan and for the reconversion into coupon certificates of
any certificates registered as to principal.

(c)  The denomination or denominations of the
certificates 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 thereof.

(d)  The rate or rates of interest of the
certificates to be issued at any particular time, payable
semi-annually.

(e)  The date of the certificates issued at any
particular time, and within the limits prescribed by Article
III, Section 34 of the Constitution of Maryland, the
redemption dates of said certificates.

The resolution authorizing the issuance of said loan or
any portion thereof shall set forth in detail the dates when
any of the certificates representing said loan or any
portion thereof are to be redeemed and the amount to be
redeemed upon such dates, respectively, according to the
serial annuity plan applied to said loan as a whole or to
the group of certificates evidencing a part of said loan
issued at a particular time, as the case may be. Said loan
and certificates and every part thereof and the interest
payable thereon shall be and remain exempt from State,
county and municipal taxation.

2.

That the Board of Public Works is hereby authorized and
directed to have prepared proper certificates of
indebtedness of the State in good and sufficient form to
aggregate the amount [of fifty-six million dollars
($56,000,000)] WHICH IS SPECIFIED IN THE SCHEDULE PROVIDED
IN SECTION 2A OF THIS ACT WHICH IS SPECIFIED IN THE SCHEDULE
PROVIDED IN SECTION 2A OF THIS ACT OF THIRTY EIGHT MILLION

DOLLARS ($38,000,000) as evidence of such loan; such

certificates of indebtedness shall bear date as of the time
of their issue as provided in Section 1 of this Act. Each
of said certificates shall be signed and countersigned in
the manner prescribed by Section 3 of Article VI of the
Maryland Constitution.

2A.

THE AGGREGATE AMOUNT OF THE STATE LOAN AUTHORIZED TO BE
ISSUED BY THIS ACT IS $56,000,000 WHICH SHALL BE REDUCED AT
THE TIMES AND BY THE AMOUNTS LISTED IN THIS SECTION TO THE
AGGREGATE SUM OF $20,000,000 ACCORDING TO THE FOLLOWING
SCHEDULE: