J. MILLARD TAWES, Governor                     1671

shall cease to be such officer, before the delivery thereof, such signa-
ture 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 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 solicitation of competitive bids thereof
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 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 circula-
tion 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 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 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 publishing said entire notice of sale, the County may, if it shall