1092                               Laws of Maryland                         [Ch. 724

84C. (a) The County shall have the power and it is hereby
authorized at one time or from time to time to provide by resolu-
tion for the issuance of its negotiable revenue bonds, certificates
or obligations for the purpose of paying all or any part of the cost
or purchase price of any one or more projects. The resolution
authorizing the issuance of such revenue bonds, certificates or
obligations, or the trust indenture hereinafter provided for, shall
state the estimated cost or purchase price of any project or projects
involved, or portion thereof, to be financed by any such revenue
bonds, certificates or obligations, and such revenue bonds, certificates
or obligations shall be issued in such amount or amounts.

(b)  The principal of and interest on such revenue bonds, cer-
tificates or obligations shall be payable solely from the funds and
revenues received by the County from said project or projects, and
no ad valorem tax or excise shall be levied by the County for the
payment of such principal and interest, but special benefit assess-
ments, which are equitable and reasonable, may be imposed for such
purpose on properties specially benefited by any such project.

(c)   The revenue bonds, certificates or obligations (herein col-
lectively called "bonds") of each issue shall be dated, shall bear
interest at such rate or rates not exceeding six per centum (6%)
per annum, payable semi-annually, and shall mature at such time
or times, not exceeding forty (40) years from their date or dates,
as may be determined by the County. The bonds of each issue may
be made redeemable before maturity at the option of the County at
such price or prices, at or above par, and under such terms and con-
ditions as may be fixed by the County prior to the issuance thereof.
The County shall determine the form of the bonds, including any
interest coupons to be attached thereto, and shall fix the denomina-
tion or denominations of the bonds and the place or places of pay-
ment of principal and interest which may be at any bank or trust
company within or without the State. The payment of the principal
of and interest on the bonds hereby authorized may be made in any
lawful medium. The County shall determine the manner of execut-
ing the bonds which may be by facsimile signature of the President
of the Board of County Commissioners, and the manner of execut-
ing the interest coupons attached thereto which also may be by
facsimile signature of said President; the official seal of the County
shall be affixed to or imprinted on the bonds, attested by the manual
signature of the County Clerk. In case any officer of the County
whose signature or a facsimile of whose signature appears on any
bonds or coupons, shall cease to be such officer before the delivery
of such bonds, or shall become such officer after the date of such
bonds, such signature or such facsimile shall nevertheless be valid
and sufficient for all purposes.

(d)  All bonds issued hereunder shall have and are hereby declared
to have all the qualities and incidents of negotiable instruments
under the negotiable instruments laws of this State.

(e)  The bonds hereby authorized may be issued in coupon or in
registered form, or both, as the County may determine, and pro-
vision 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.