1244                             Laws of Maryland                       [Ch. 739

(b)  Form of Bonds. The bonds of each issue shall be dated, shall
bear interest at such rate or rates not exceeding four per centum per
annum, and shall mature at such time or times, as may be determined
by the Board of County Commissioners or County Council of the
county issuing the same. They may be made redeemable before
maturity at the option of such Board of County Commissioners or
County Council at such price or prices and under such terms and
conditions as may be fixed by such Board of County Commissioners
or County Council prior to the issuance of the bonds. Such Board of
County Commissioners or County Council shall determine the form of
the bonds, including any interest coupons to be attached thereto, and
shall fix the denomination or denominations of the bonds and the
place or places of payment of principal and interest, which may be
at any bank or trust company within or without the State. The
bonds shall be signed by such officer or officers of the county issuing
the same, the seal of such county shall be affixed thereto and
attested in such manner, and any coupons attached thereto shall bear
the facsimile signature of such officer as the Board of County Com-
missioners or County Council of such county shall determine. In case
any officer whose signature or a facsimile of whose signature shall
appear on any bonds or coupons shall cease to be such officer before
the delivery of such bonds, such signature or such facsimile shall
nevertheless be valid and sufficient for all purposes the same as if he
had remained in office until such delivery. All bonds issued under
the provisions of this section shall have and are hereby declared to
have all the qualities and incidents of negotiable instruments under
the negotiable instruments law of the State. The bonds may be issued
in coupon or in registered form, or both, as the said Board of County
Commissioners or County Council may determine, and provision may
be made for the registration of any coupon bonds as to principal alone
and also as to both principal and interest, and for the reconversion
into coupon bonds of any bonds registered as to both principal and
interest. Said Board of County Commissioners or County Council
may sell such bonds in such manner, either at public or private sale,
and for such price as it may determine to be for the best interest of
the county, 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 four per centum 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 premium to be paid on redemption of any bonds prior
to maturity. The provisions of Sections 32 to 34, inclusive, of Article
31 of the Annotated Code of Maryland (1951 Edition), and any
amendments thereto, shall not apply to bonds issued under the
provisions of this section.

(c)  Use of Proceeds. The entire proceeds from the sale of any
bonds issued under the provisions of this section, after payment of
all costs and expenses incurred in connection with the preparation,
sale and delivery of the bonds, shall be used solely for the payment
of the cost of the voting machines for the purchase of which such
bonds are issued. Any balance remaining after the purchase of said
voting machines shall be used to pay the interest on or to redeem
any of said bonds.

(d)  Levy for Bonds Authorized. In order to pay the principal of
and interest on said bonds when and as the same become due and
payable, the Board of County Commissioners or County Council of