1540                             Laws of Maryland                       [Ch. 823

to such bond, duly attested by the Clerk to said Board of County
Commissioners. 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 never-
theless be valid and sufficient for all purposes the same as if he had
remained in office until such delivery. The signatures and seals
hereby required to be affixed to said bonds by officials of the Board
and of the County may be made in facsimile. Provision may be made
for the registration of said bonds 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 registered as
to both principal and interest.

Sec. 4. And be it further enacted, That in the event the County
shall approve any proposal of the Board made pursuant to Section
2 hereof, in whole or in part, then the Board shall provide for the
issuance of said bonds in accordance with the conditions imposed
by the County, by adoption of a resolution authorizing said bonds.
Following adoption of said resolution by the Board, a certified copy
therof shall be sent to the County, which shall thereupon adopt an
appropriate resolution providing for the guarantee of said bonds in
the manner herein prescribed, and the payment of the principal of
and interest on said bonds, in the event the same are sold.

Sec. 5. And be it further enacted, That such bonds shall be issued
and sold in accordance with the provisions of Sections 32, 33 and 34
of Article 31 of the Annotated Code of Maryland (1951 Edition and
1956 Supplement), as amended, except that said bonds may be sold
for such price or prices as may be determined to be for the best
interests of the County, either at, above or below the par value of
any such bonds. No such sale shall, however, be made at a price
so low as to require the payment of interest on the money received
therefore 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, excluding, however, from such
computation the amount of any redemption premium. In addition,
in lieu of publishing the entire notice of sale as contemplated by
Section 33 of said Article 31, the Board may, if it shall so elect in
said resolution, publish a brief summary of said notice which shall
state where interested parties may obtain a complete copy thereof.
The sale of any such bonds shall be held in the presence of the Board
and the County and, upon determination of the best bid for such
bonds, the acceptance of such bid shall be made by the Board only
with the approval of the County. Accordingly, the notice of sale of
any such bonds shall reserve to the Board and to the County the
right to reject any or all bids received. However, neither the Board
nor the County shall defer its decision to accept the best bid for any
such bonds beyond the close of business on the day fixed for the sale
thereof, without the consent and approval of the best bidder for such
bonds or his authorized representative. Upon delivery of any of said
bonds to the purchaser or purchasers thereof, payment therefor shall
be made to the Treasurer of the Board, who shall thereafter disburse
the same only on vouchers approved by the Board's designated
Officials.

Sec. 6. And be it further enacted, That the bonds hereby author-
ized shall constitute, and they shall so recite, an irrevocable pledge