clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1957
Volume 640, Page 1038   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

1038                             Laws of Maryland                       [Ch. 634

in equal par amounts or in consecutive annual installments. Subject
to the limitations herein contained, said County shall have and is
hereby granted full and complete authority and discretion to fix and
determine, in said resolution, the form and tenor of any such bonds,
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 respec-
tively mature and be payable, the manner of selling said bonds at
public sale, and generally all matters incident or necessary to the
issuance, sale and delivery thereof. The bonds of each such issue shall
be dated, shall bear interest at such rate or rates not exceeding six
per centum (6%) per annum, payable semi-annually, shall mature
at such time or times as may be determined by said resolution, and
said bonds may, by said resolution, be made redeemable before
maturity, at the option of the County, at such price or prices and
under such terms and conditions as may be fixed by said County,
either in said resolution or in subsequent resolutions, but prior to
the issuance of said bonds. The principal of and the interest on said
bonds may be made payable in any lawful medium. Said resolution
shall determine the form of said bonds, including any interest coupons
to be attached thereto, and the manner of executing and sealing the
same, which may be by facsimile, and shall fix the denomination or
denominations of the bonds and the place or places of payment of the
principal and the interest thereon, which may be at any bank or trust
company within or without the State of Maryland. In case any officer
whose signature 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 de-
livery. Said bonds may, by any such resolution, be issued in coupon
or in registered form or both, and provision may be made for the
registration of said bonds having coupons attached, as to principal
alone and also as to both principal and interest, and for the recon-
version of said bonds into coupon form if any of such bonds shall
have been registered as to both principal and interest. Such bonds
shall not be subject to the provisions of Sections 32, 33, and 34 of
Article 31 of the Code of Public General Laws of Maryland (1951
Edition) but said County shall offer said bonds only by solicitation
of competitive bids therefor at public sale. Said bonds may be sold
for such price or prices as may be determined to be for the best in-
terests of 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 six per centum (6%) 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. Upon delivery of any of
said bonds to the purchaser or purchasers thereof, payment therefor
shall be made to the Treasurer of Prince George's 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 County shall likewise fix the terms and
conditions 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 accordance with the pro-
visions hereof. Said notice shall be published at least twice in one or
more daily or weekly newspapers having a general circulation in the

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1957
Volume 640, Page 1038   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 10, 2023
Maryland State Archives