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Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 71   View pdf image (33K)
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J. MILLARD TAWES, Governor 71

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 arriving at the same, the date or dates upon which said
bonds shall respectively mature and be payable, the manner of
selling said bonds at public sale, and generally all matters inci-
dent 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 percentum (6%) per annum, payable
semi-annually, shall mature at such time or times as may be de-
termined by said resolution, and said bonds may, by said resolu-
tion, be made redeemable before maturity, at the option of the
County, at such price or prices and under such terms and con-
ditions 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 of said bonds may be made pay-
able in any lawful medium. Said resolution shall determine the
form of said bonds, including any interest coupons to be attached
thereto, and the manner of executing and sealing the same, which
may be by facsimile, and shall fix the denomination or denomi-
nations 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 sufficient for all purposes the same as if he had remained
in office until such delivery. Said bonds may, by any such resolu-
tion, be issued in coupon or in registered form or both, and pro-
vision may be made for the registration of said bonds having
coupons attached, as to principal alone and also as to both prin-
cipal 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. 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 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. Upon delivery of any of said
bonds to the purchaser or purchasers thereof, payment therefor
shall be made to the Treasurer of Prince George's County.

In addition to making provision for the above described terms
and conditions of any group or series of bonds issued hereunder,
the above mentioned resolution of the County shall likewise fix
the terms and conditions of the public sale of such group or series
of bonds, and said resolution shall adopt a suitable form of notice
of sale, which shall briefly outline said terms and conditions in



 

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Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 71   View pdf image (33K)
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