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Session Laws, 1949
Volume 590, Page 1876   View pdf image (33K)
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1876 LAWS OF MARYLAND. [CH. 761

ner in which the public sale of any bonds authorized to be
issued pursuant to the provisions of said section must be
advertised; and

WHEREAS,, the manner of advertising the public sale of
said bonds is unduly long and unecessarily expensive; and

WHEREAS, it is the intent and desire of the General Assem-
bly of Maryland to provide a manner of advertising public
sales of said bonds which will produce just as wide circula-
tion among potential bidders as the manner now required,
but which will prove less costly and time consuming;

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 356 of the Code of Public Local Laws of
Baltimore County (Smith's 1948 Edition), title "Public
Works", sub-title "Sewer and Water" (Metropolitan Dis-
trict), be and the same is hereby repealed and re-enacted,
with amendments, to read as follows:

356. For the purpose of providing funds for meeting the
expenses of the Commissioners and for designing and con-
struction, purchase or acquisition of the water supply, sewer-
age and drainage systems provided for by this Act, the Com-
missioners shall, from time to time, as they deem necessary,
issue bonds upon the faith and credit of Baltimore County.
Except as hereinafter provided said County Commissioners
shall offer said bonds only by solicitation of competitive bids
therefor at public sale, which offering, except as herein other-
wise provided, shall be made in accordance with the provi-
sions of Section 35 of Article 31 of the Code of Public Gen-
eral Laws of Maryland (1939 Edition). Said County shall,
by ordinance or resolution, fix the terms and conditions of
the public sale or sales of such bonds and said ordinance
or resolution shall adopt suitable forms of notice of such sale
or sales which shall briefly outline the terms and conditions
thereof in accordance with the provisions of this Act. In lieu
of publishing said entire notice of sale, in any instance, said
County Commissioners may, if it so elects, in any such ordi-
nance or resolution provide for the publication of a brief
summary of any such notice which need not contain all or
any of the information called for by said Section 35 of Article
31 but which shall state where interested parties may obtain
a complete copy of any such notice of sale. Each such notice
of sale may also contain a brief summary of pertinent cur-
rent financial information or indicate from whom such in-
formation may be obtained. And all accrued interest between
the date of said bonds and the time of sale and delivery of and

 

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Session Laws, 1949
Volume 590, Page 1876   View pdf image (33K)
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