52 LAWS OF MARYLAND [CH. 17

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 pur-
poses 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 registra-
tion of said bonds having coupons attached, as to principal 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 Commissioners shall offer said bonds only by solici-
tation 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 Anne Arundel 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 re-
ceived therefor at more than six per centum (6%) per annum, com-
puted with relation to the absolute maturity of the bonds in ac-
cordance 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 Anne
Arundel County or such other official of Anne Arundel County
designated to receive such payment in a resolution passed by the
County Commissioners before such delivery.

In addition to making provision for the above described terms
and conditions of any group or series of bonds issued hereunder,
the County Commissioners shall likewise, by an appropriate resolu-
tion, fix the terms and conditions of the public sale of such group or
series of bonds, and shall adopt a suitable form of notice of sale,
which shall briefly outline said terms and conditions in accordance
with the provisions hereof. Said notice shall be published in one or
more daily or weekly newspapers having a general circulation in
Anne Arundel County, and may also be published in one or more
journals having a circulation primarily among banks and invest-
ment bankers. The sale of said bonds shall be held not sooner than
ten (10) days following the publication of said notice. Said notice
shall offer said bonds to the highest bidder or bidders therefor, and
shall state how said highest bidder or bidders will be determined.
Said notice of sale shall specify the date, place and hour at which
bids for said bonds will be received and opened and the bonds awarded.
It shall also specify that each bid shall be made in writing by a
sealed proposal and shall be accompanied by a good faith deposit in
a fixed or determinable amount as security for compliance by the
bidder with his bid. Said notice shall refer to this Chapter as
authority for the bonds and shall state the date of issue of the bonds
offered, the total aggregate par amount thereof, the schedule of
maturities thereof, the interest payable thereon, or the method of
determining the same, the purpose to which the proceeds thereof will
be devoted, and the general form thereof, including a statement
whether said bonds will be redeemable, will be in coupon or registered