J. MILLARD TAWES, GOVERNOR                             727

pons attached thereto, shall cease to be such officer, before the de-
livery thereof, such signature shall nevertheless be valid and suffi-
cient 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 princi-
pal alone and also as to both principal and interest, and for the re-
conversion 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 Ar-
ticle 31 of the Code of Public General Laws of Maryland (1957 Edi-
tion), but said County shall offer said bonds only by solicitation of
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 there-
for shall be made to the Treasurer of Anne Arundel 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 proposal and shall be accompanied by a good faith de-
posit 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 aggregate par amount thereof, the schedule of ma-
turities thereof, the interest payable thereon, or the method of deter-
mining 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 form,
and whether the same will be registerable as to principal, or as to
both principal and interest. Each such notice of sale shall also con-
tain 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 re-
ceived. In lieu of publishing said entire notice of sale, the County