PARRIS N. GLENDENING, Governor                             Ch. 125

(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.

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

The resolution authorizing the issuance of said loan or any portion thereof shall set
forth in detail the dates when any of the bonds representing said loan or any portion
thereof are to be paid and the amount to be paid upon such dates, respectively. The
bonds issued pursuant to this Act, their transfer, the interest payable thereon, and any
income derived therefrom, including any profit realized in the sale or exchange thereof,
shall at all times be exempt from taxation of every kind and nature whatsoever within this
State by the State of Maryland or by any of its political subdivisions, municipal
corporations, or public agencies of any kind.

SECTION 2. AND BE IT FURTHER ENACTED, That the Board of Public Works
is hereby authorized and empowered to have prepared proper bonds of the State in good
and sufficient form to aggregate the amount of [Fifty Million Dollars ($50,000,000)]
FORTY-NINE MILLION, NINE HUNDRED FORTY-FOUR THOUSAND, NINE
HUNDRED THIRTY-NINE DOLLARS ($49,944,939), as evidence of such loan; such
bonds shall bear date as of the time of their issue as provided in Section 1 of this Act.
Each of said bonds shall be signed and countersigned in the manner prescribed by Section
3 of Article VI of the Maryland Constitution.

Chapter 568 of the Acts of 1983

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Water Quality
Loan of 1983 in the aggregate principal amount of [$12,000,000] $11,593,770. This loan
shall be evidenced by the issuance and sale of State general obligation bonds authorized
by a resolution of the Board of Public Works and issued, sold and delivered in accordance
with the provisions of §§ 19 to 23 of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume and 1982 Supplement, as amended from time to time).

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