WILLIAM DONALD SCHAEFER, Governor Ch. 311

(2)  The form of the certificates representing the
loan or any part 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 $100 but may be in sums of $100 or any suitable
multiple thereof, and the place or places of payment of principal
and interest thereof.

(4)  The rate or rates of interest of the certificates
to be issued at any particular time not exceeding in any case 4
1/2 percent per annum, 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, 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.

(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
$4,000,000, 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 Constitution of Maryland.

(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 2 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 the State will be in readiness at a time within 20 days after
the expiration of said notice to receive sealed bids at such
place or places as may be named in said respective advertisements

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