DEBT—PUBLIC 1369

shall, unless the enabling act authorizing the issue and sale of said bonds
shall specifically exempt the same from the provisions of this section, or
unless such enabling act shall specify a different method of sale, first be
offered at public sale to the highest bidder or bidders therefor upon due
notice of such sale being given by advertisement inserted at least twice in
one or more daily or weekly newspapers having a general circulation in
the area in which said public body is located, said sale to be held not sooner
than ten days following the first insertion of said advertisement. The form
of said advertisement shall be prescribed in the resolution or ordinance of
the governing body of said public body authorizing the issue of said bonds
and the sale thereof at public sale pursuant to the requirements of this
section. Said advertisement shall specify that all bids shall be made in
writing by sealed proposals accompanied by a good faith deposit in such
amount as the governing body may in its judgment prescribe, and said
advertisement shall give notice of the date, place and hour at which pro-
posals will be received and opened and the bonds awarded. Said adver-
tisement shall give a brief description of said bonds by referring to the
Act of Assembly authorizing the same, the date of issue thereof, the total
aggregate par amount thereof, the schedule of maturities thereof, the inter-
est payable thereon or the method of determining the same, the purpose
to which the proceeds thereof will be devoted, and the general form thereof,
including a statement whether said bonds will be in coupon or registered
form and whether the same will be registerable as to principal or interest
or both. Said public body may in said advertisement reserve unto itself
the right to reject any or all of the bids made pursuant to said advertise-
ment and if all of said bids are so rejected at the public sale of said bonds
pursuant to the power so reserved then said public body may, within thirty
days of the rejection of all of said bids but not thereafter, offer to sell or
sell said bonds at private sale for a price riot less than the highest amount
bid for said bonds by an acceptable bidder at the public sale thereof, and if
said bonds are not sold either at said public sale or at private sale within
said thirty-day limitation, then they may not be sold in any manner except
upon a subsequent public sale duly advertised in the manner herein
specified.

1939, ch. 630, sec. 33.

36. Unless the enabling act authorizing any public body to issue bonds
shall specifically exempt said bonds from the provisions of this section,
or unless such enabling act shall provide a method of maturing the bonds
therein authorized different from the method herein provided for, no
public body shall issue its bonds, pursuant to any such general or special
authority heretofore or hereafter granted, except upon a serial maturity
plan, the last of such series to mature within the maximum period of
maturity prescribed in the schedule of maturities hereinafter set forth
dependent upon the several public purposes for which any such bonds may
be issued. The public body may, in its discretion, provide for the maturity
of said series in consecutive annual installments or at longer intervals, and
the amounts of each series may vary, but in no event shall the final series
mature after the maximum period from the date of the issue of such bonds,
as hereinafter limited, shall have expired. No bonds issued for the pur-
pose of providing funds, in whole or in part, for any of the public improve-
ments enumerated below shall be issued to mature at a date later than the
number of years from date of issue set opposite each of said public improve-