Ch. 311                                LAWS OF MARYLAND

(2)  The form of the certificate 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 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.

(3)  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.

(4)  The rate and rates of interest of the
certificates to be issued at any particular time, payable
semiannually.

(5)  The date of the certificates issued at any
particular time and, within the limits prescribed by Article III,
§ 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. Said loan and certificates and every part thereof
and the interest payable thereon shall be and remain exempt from
State, county and municipal taxation.

(c) 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
six million dollars ($6,000,000), as evidence of such loan; such
certificates of indebtedness shall bear date as of the time of
their issue as provided in subsection (b) of this section. Each
of said certificates shall be signed and countersigned in the
manner prescribed by § 3 of Article VI of the Maryland
Constitution.

(d), In order to provide for the selling of the certificates
of indebtedness aforesaid, to be issued under the provisions of
this section, the Board of Public Works is hereby directed to
advertise once before the said certificates of indebtedness or
any part thereof shall be issued in two newspapers published in
the City of Baltimore and in such other manner as the Board of
Public Works in its discretion may determine, that the Treasurer
of this State will be in readiness at a time within twenty (20)
days after the expiration of said notice to receive bids at such
place or places as may be named in said respective advertisements
for bonds or certificates of indebtedness issued under the
provisions of this section, under such regulations as may be made

- 1594 -