548                              Laws of Maryland                      [Ch. 421

of the amount so needed, and to issue its bonds to evidence such
borrowing or indebtedness. Each series or group of said bonds shall
be issued to mature in annual serial installments, the last installment
to mature not later than thirty (30) years from the date of issue of
said group or series. In said resolution, said County shall fix the
annual serial maturity plan with respect to the bonds to be issued
thereunder and said annual serial maturities shall be so fixed as to
conform to the general financial plans of the County but need not be
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 arriv-
ing at the same, the date or dates upon which said bonds shall re-
spectively 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 resolu-
tion, 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 cou-
pons 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 suffi-
cient for all purposes the same as if he had remained in office until
such delivery. 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 prin-
cipal alone and also as to both principal and interest, and for the
reconversion of said bonds into coupon form if any such bonds shall
have been registered as to both principal and interest. Such bonds
shall not be subject to the provisions of Sections 9, 10, and 11 of
Article 31 of the Code of Public General Laws of Maryland (1957
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
interests 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 rela-
tion to the absolute maturity of the bonds in accordance with stand-
ard tables of bond values, excluding, however, from such computa-
tion the amount of any redemption premium. Upon delivery of any
of said bonds to the purchaser or purchasers thereof, payment there-
for shall be made to the Treasurer of Kent County.