WM. PRESTON LANE,, JR., GOVERNOR. 1485

at public sale to the highest competitive bidder therefor, or
by private negotiation, and if said bonds are offered for sale
at public sale, then such sale shall be conducted in all respects
in accordance with the provisions of Section 35 of Article 31
of the Code of Public General Laws of Maryland (1939 Edi-
tion), but notwithstanding the provisions of said section,
said Board of County Commissioners may, if it so elects, sell
said bonds at private sale at the best price obtainable therefor,
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 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.
If such bonds are sold at public sale, the published notice
of such sale need not contain all the information concerning
the terms and conditions of sale as required by said Section
35, but such published notice may be a brief summary of such
terms and conditions but shall state where a complete state-
ment of said terms and conditions of sale, together with a
complete financial statement of the County, may be obtained.
Subject to the limitations hereinabove contained, the Board
of County Commissioners shall have full and complete dis-
cretion and authority to determine the form and tenor of
any such bonds so to be issued, the rate or rates of interest
payable thereon, or the method of arriving at the same, the
date or dates upon which said bonds, shall respectively mature
and be payable, and whether said bonds shall be made redeem-
able before maturity, at the option of the County, and the
redemption prices to be offered. The principal and interest
of said bonds may, by said Board of County Commissioners,
be made payable in any lawful medium and at any place
either within or without the State of Maryland, and said
bonds may be issued in coupon or registered form or be issued
subject to registration as to principal only, or as to both
principal and interest, upon such terms and conditions as said
Board of County Commissioners shall provide. Said Board
of County Commissioners shall also provide for the manner
of executing and sealing said bonds, which, in each instance,
may be by facsimile, and in case any officer whose signature
or a facsimile thereof shall appear on any such bond, or on
the coupons attached thereto, shall cease to be such officer
before the delivery thereof, such signature shall nevertheless
be valid and sufficient for all purposes the same as if he had
remained in office until such delivery. Said Board of County
Commissioners may, by appropriate resolution, provide for
the replacement of any bonds issued hereunder which shall