2082                                        LAWS OF MARYLAND                                    Ch. 589

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 not exceeding in any case 6% per
annum, payable semiannually.

(e)  The date of the certificates issued at any particular
time, 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.

SECTION 2. AND BE IT FURTHER ENACTED, 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 [five million two
hundred and fifty thousand dollars ($5,250,000)] ZERO DOLLARS

($0), 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.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall

take effect June 1, 1986.
Approved May 13, 1986.