WM. PRESTON LANE, JR., GOVERNOR. 1547

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 annum,
computed with relation to the absolute maturity of the bonds
in accordance with standard tables of bond values, exclud-
ing, however, from such computation the amount of any re-
demption premium. Upon delivery of any of said bonds to
the purchaser or purchasers thereof, payment therefor shall
be made to the Treasurer of Baltimore 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 condi-
tions 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 ac-
cordance with the provisions hereof. Said notice shall be
published 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 circula-
tion primarily among banks and investment bankers. The
sale of said bonds shall be held not sooner than ten (10) days
following the first publication of said notice. - Said notice
shall offer said bonds to the highest bidder or bidders there-
for, and shall state how said highest bidder or bidders will
be determined. 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 accompanied by a good faith deposit in a fixed
or determinable amount as security for compliance by the
bidder with his bid. Said notice shall refer to this Act as
authority for the bonds and shall state the date of issue of
the bonds offered, the total aggregate par amount thereof, the
schedule of maturities thereof, the interest 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
redeemable, will be in coupon or registered form, and whether
the same will be registerable as to principal, or as to both
principal and interest. Each such notice of sale shall also
contain a brief summary of the current financial condition
of the County or shall indicate where such a statement may
be obtained and, finally, shall reserve unto the Board of
County Commissioners the right to reject any or all bids re-
ceived. In lieu of publishing said entire notice of sale, the
Board of County Commissioners may, if it shall so elect in