WM. PRESTON LANE, JR., GOVERNOR. 41

or on the coupons attached thereto, shall cease to be such
officer before the delivery thereof, such signature shall never-
theless be valid and sufficient for all purposes the same as if
he had remained in office until such delivery. Said bonds
may, by any such resolution, be issued in coupon or in
registered form, or both, and provision may be made for the
registration of said bonds, having coupons attached, as to
principal alone and also as to both principal and interest,
and for the reconversion of said bonds into coupon form, if
any of such bonds shall have been registered as to both prin-
cipal and interest. Such bonds shall not be subject to the
provisions of Sections 34, 35 and 36 of Article 31 of the Code
of Public General Laws of Maryland (1939 Edition), but said
County shall offer said bonds only by solicitation of competi-
tive bids therefor at public sale. Said bonds may be' sold for
such price or prices as may be determined to be for the best
interests of the County, either at, above or below the par
value of any such bonds, but no such sale shall be made at a
price so low as to require the payment of interest on the money
received therefor at more than five per centum (5%) per an-
num, computed with relation to the absolute maturity of the
bonds in accordance with standard tables of bond values, ex-
cluding, however, from such computation the amount of any
redemption premium. Upon delivery of any of said bonds to
the purchaser or purchasers thereof, payment therefor shall
be made to the Treasurer of Carroll County.

In addition to making provision for the above described
terms and conditions of any group or series of bonds issued
hereunder, the above mentioned resolution of the Board of
County Commissioners shall likewise fix the terms and con-
ditions of the public sale of such group or series of bonds, and
said resolution shall adopt a suitable form of notice of sale,
which shall briefly outline said terms and conditions in accord-
ance with the provisions hereof. Said notice shall be pub-
lished at least twice in one or more daily or weekly news-
papers having a general circulation in the County, and may
also be published in one or more journals having a circulation
primarily among banks and investment bankers. The sale of
said bonds shall be held not sooner than ten (10) days follow-
ing the first publication of said notice. Said notice shall offer
said bonds to the highest bidder or bidders therefor, and shall
state how stad highest bidder or bidders will be determined.
In lieu of publishing said entire notice of sale, the Board of
County Commissioners may, if it shall so elect in said reso-
lution, publish a brief summary of said notice which shall
state where interested parties may obtain a complete copy
thereof. Said notice of sale shall specify the date, place and
hour at which bids for said bonds will be received and opened
and the bonds awarded. It shall also specify that each bid
shall be made in writing by a sealed proposal and shall be