J. MILLARD TAWES, GOVERNOR                             1691

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 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 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 accordance with the
provisions hereof. Said notice shall be published at least twice in
one or more daily or weekly newspapers having a general circulation
in the County, and may also be published in one or more journals
having a circulation primarily among banks and investment bankers.
The sale of said bonds shall be held not sooner than ten (10) days
following the first 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 pro-
posal 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 Act as authority for the bonds
and shall state the date of issue of the bonds offered, the total aggre-
gate 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 re-
deemable, will be in coupon or registered form, and whether the same
will be registerable as to principal, or as to both principal and inter-
est. Each such notice of sale shall also contain a brief summary of the
current financial condition of the County or shall indicate where such
a statement may be obtained and, finally, shall reserve unto the
County the right to reject any or all bids received. In lieu of pub-
lishing said entire notice of sale, the County may, if it shall so elect
in said resolution, publish a brief summary of said notice which need
not contain all the information required for said notice of sale but
which shall state where interested parties may obtain a complete
copy thereof.

Sec. 4. And be it further enacted, That the money so borrowed
for the library building IN THE TENTH (LAUREL) ELEC-
TION DISTRICT described in said resolution above required,
in evidence of which any such bonds shall be issued, shall be paid to
the Treasurer of Prince George's County and shall be used ex-