WM. PRESTON LANE, JR., GOVERNOR. 33

thereon. Said bonds may by any such ordinance be author-
ized in coupon or in registered form, or both, and provision
may be made for the registration of said bonds, having cou-
pons 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 regis-
tered as to both principal and interest.

SEC. 3. And 'be it -further enacted, That except as herein-
after provided, said municipality shall offer said bonds for
sale only by solicitation of competitive bids therefor at
public sale, which offering, except as herein otherwise pro-
vided, shall be made in accordance with the provisions of
Section 35 of Article 31 of the Code of Public General Laws
of Maryland (1939 Edition). Said bonds may be sold for
such price or prices as may be determined to be for the best
interests of the municipality, either at, above or below the
par value of any such bonds. Upon delivery thereof, pay-
ment for the bonds shall be made to the City Registrar of
the Mayor and Aldermen of Frederick. Said municipality
shall, by ordinance or resolution, fix the terms and condi-
tions 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, the Mayor and Aldermen of Frederick may,
if it so elects, in any such ordinance 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 con-
tain a brief summary of the current financial condition of
the municipality, or indicate from whom such a statement
may be obtained, and each such notice shall specifically re-
serve unto the Mayor and Aldermen of Frederick the right
to reject any or all bids received. Should no valid bids be
received for any of such bonds so offered for sale at public
sale pursuant to the terms of this Act, said municipality
shall have the right, and is hereby authorized, to sell said
bonds at the best price or prices obtainable therefor by
private negotiation and, in order to effect such a private
gale, may make such adjustments in the interest rate or
rates, selling price and schedule of maturities of said issue
of bonds as said municipality may deem to be in its best

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