1452                           LAWS OF MARYLAND                      [CH. 702

not exceed Four Hundred Thousand Dollars ($100,000). SIX HUN-
DRED THOUSAND DOLLARS ($600,000).

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 project or projects described in Section 1 hereof for
which said borrowing or indebtedness is intended, the amount needed
for said purposes, and determining to borrow money or incur indebt-
edness 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 install-
ments, 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
installments. 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
price or prices and under such terms and conditions 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 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 execut-
ing 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 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 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 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 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