WM. PRESTON LANE, JR., GOVERNOR 277

SEC. 2. And be it further enacted, That said bonds,
and the coupons attached thereto, shall be in such form
and denominations and shall be executed and delivered in
such manner as the city may from time to time decide,
such decision, however, to be made, with respect to each
particular group of bonds sold, prior to the delivery
thereof, by one or more legally adopted ordinances. Such
bonds, as issued, shall be dated, shall bear interest at such
rate or rates not exceeding four per centum (4%) per
annum, payable semi-annually and shall mature in con-
secutive annual serial installments at such time or times
not exceeding forty (40) years from their date or dates
of issue as may be determined in said ordinances above
referred to. Said bonds, or any of them, may be made
redeemable before maturity at the option of the city at
such price or prices and under such terms and conditions
as may be fixed by the city in said ordinance or ordinances.
The principal and interest of such bonds may be made
payable in any lawful medium and the city may fix the
place or places of such payment, which may be at any bank
or trust company within or without the State. In case
any officer whose signature shall appear on any such bonds
or coupons shall cease to be such officer before delivery
of such bonds, such signature shall nevertheless be valid
and sufficient for all purposes the same as if he had re-
mained in office until delivery. Provision may be made by
the city for the registration of any such bonds in the
name of the owner or owners thereof as to principal alone
and, also, as to both principal and interest, and for the re-
conversion of any of the bonds so registered as to both
principal and interest into coupon bonds. The city shall
sell said bonds at public sale in the manner prescribed by
Section 35 of Article 31, Code of Public General Laws of
Maryland (1939 Edition) and for such price or prices as
it may from time to time determine to be for its best in-
terest, but no such sale shall be made at a price so low
as to require the payment of interest on the money re-
ceived therefor at more than four per centum (4%) per
annum, computed with relation to the absolute maturity
of the bonds in accordance with standard tables of bond
values, excluding, however, from such computation the
amount of any redemption premium. Such bonds shall
not be subject to the provisions of Section 36 of said
Article 31, Code of Public General Laws of Maryland
(1939 Edition), but they shall be issued on an annual
serial maturity plan so that a certain number of said bonds
will mature in consecutive annual serial installments. The