1690                             Laws of Maryland                       [Ch. 904

forth. Such bonds may be issued from time to time, in one or more
groups or series, as funds for such library construction or acquisition
become necessary, provided, however, that the total debt which may
be incurred pursuant to the authority of this Act shall not exceed
Sixty Thousand Dollars ($60,000).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing the library building IN THE TENTH (LAUREL)
ELECTION DISTRICT for which said borrowing or indebted-
ness is intended, the amount needed for said purposes in the
aggregate, and determining to borrow money or incur indebtedness
for all or a part 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 in-
stallments. Subject to the limitations herein contained, said County
shall have and is hereby granted full and complete authority and dis-
cretion 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 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 resolution, and said bonds may, by said resolution, be made
redeemable before maturity, at the option of the County, at such
prices and under such terms and conditions as may be fixed by said
County, either in said resolution or in subsequent resolution, 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 in-
terest 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 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 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 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 registered as to both principal and interest.
Such bonds shall not be subject to the provisions of Sections 9, 10