1670                           LAWS OF MARYLAND                      [CH. 796

THAT SUCH PURCHASE IS RECOMMENDED BY THE REC-
REATION COMMISSION AND THAT SUCH LAND IS AP-
PRAISED BY A REGISTERED APPRAISER, for recreation
purposes 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 from time to time, in an amount
not exceeding the sum of Two Hundred Fifty Thousand Dollars
($250,000) and to evidence such borrowing by the issuance and sale
upon its full faith and credit of its serial maturity, general obliga-
tion coupon bonds in like par amount, upon the terms and conditions
hereinafter set forth. Such bonds may be issued from time to time,
in one or more groups or series, as funds for such purchases become
necessary, provided, however, that the total debt which may be in-
curred pursuant to the authority of this Act shall not exceed Two
Hundred Fifty Thousand Dollars ($250,000).

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 land for the purchase of which said borrowing or in-
debtedness is intended, the amount needed for said purposes, 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 bor-
rowing 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 installments. Subject to the limita-
tions 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 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 resolu-
tion 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 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 bonds, or on the coupons attached thereto,