1656                              Laws of Maryland                       [Ch. 896

Anne Arundel Public Library Association, Inc. and, in order to
make such financing possible, said County is hereby granted the
power and authority to borrow money and incur indebtedness for
such purpose in an amount not exceeding the sum of Three Hundred
Eighty two Thousand Dollars ($382,000) TWO HUNDRED THOU-
SAND DOLLARS ($200,000) and to evidence such borrowing by
the issuance and sale upon its full faith and credit of its serial ma-
turity, general obligation coupon bonds in like par amount, upon the
terms and conditions hereinafter set forth.

Sec. 3. And be it further enacted, That, subject to the aforegoing
limitations, the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a resolu-
tion describing the library building for which said borrowing or
indebtedness is intended, the amount needed for said purposes, and
determining to borrow money or incur indebtedness for the amount
so needed, and to issue its bonds to evidence such borrowing or
indebtedness. 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. 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 install-
ments. 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 gen-
erally all matters incident or necessary to the issuance, sale and
delivery thereof. The bonds 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 determined 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 conditions
as may be fixed by said County, either in said resolution or in sub-
sequent 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 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 denominations of the
bonds and the place or places of payment of the principal and in-
terest thereon, which may be at any bank or trust company within
or without the State of Maryland. In case any officer whose signa-
ture 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 regis-
tration 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 of such bonds shall have been