302 LAWS OF MARYLAND. CH. 229

cerning the form and tenor of said bonds hereby author-
ized.

SEC. 2. And be it further enacted, That, as hereinabove
provided, the Mayor and Council of Crisfield shall provide
for the issuance and sale of said bonds in an ordinance or
ordinances which shall adopt the form of said bonds, levy
the taxes to provide for the payment thereof, and also set
forth the form of the notice of sale of said bonds. Said
bonds shall first be offered for sale at public sale, and the
notice above provided for shall solicit competitive bids for
said bonds and shall state clearly the time and place where
said bids will be received as well as the terms and con-
ditions of sale and a brief description of said bonds. Said
notice of sale shall state that said bonds will be awarded
to the highest responsible bidder for cash, in the discretion
of the Mayor and Council of Crisfield if the prices bid ap-
pear to be adequate, but said notice of sale shall also spe-
cifically reserve to the Mayor and Council of Crisfield the
right to reject any and all bids. The Mayor and Council
of Crisfield may, in its absolute discretion, fix the interest
rate payable on said bonds at a rate not in excess of five
per centum (5%) per annum, payable semi-annually, or
it may, in said notice of sale, request bidders to name the
rate of interest, not exceeding five per centum (5%) per
annum, upon which their bids are based. In the event the
latter method of determining the interest rate is adopted,
then said notice of sale shall specifically state the method
by which the highest bid for said bonds will be determined.
Said notice of sale shall finally require all bidders to ac-
company their bids with certified checks in an amount to
be prescribed by said notice of sale, as evidence of the
good faith of said bidders. Said notice of sale shall be
advertised by publication once a week for two consecutive
weeks next preceding the date fixed for the sale of said
bonds in some newspaper or newspapers having a general
circulation in Somerset County. All bids for said bonds
shall be filed with the City Clerk, in accordance with said
notice of sale, and at the time and place fixed for said sale,
said bids shall be opened and read by the City Clerk in
the presence of the Mayor and City Council of Crisfield
in public meeting assembled. If all of the bids made for
said bonds are insufficient or inadequate in the judgment
of the Mayor and Council of Crisfield, and all of said bids
are therefore rejected, the Mayor and Council of Crisfield
may thereafter from time to time re-offer said bonds at
public sale in the manner above outlined or, in the absolute
discretion of the Mayor and Council of Crisfield, said