J. MILLARD TAWES, Governor                     1689

poses 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 regis-
tration 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 solicitation 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 Anne Arundel County or such other official of
the County designated to receive such payment in a resolution passed
by the Board of County Commissioners of Anne Arundel County
before such delivery.

In addition to making provision for the above-described terms
and conditions of any group or series of bonds issued hereunder,
the County shall likewise fix the terms and conditions of the public
sale of such group or series of bonds and shall adopt a suitable form
of notice of sale, which shall briefly outline said terms and conditions
in accordance with the provisions hereof by an appropriate resolu-
tion. Said notice shall be published 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 pri-
marily among banks and investment bankers. At least one publica-
tion of the notice of sale shall be made not less than ten (10) days
before the sale of said bonds. 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 deposit in a fixed or deter-
minable 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 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 redeem-
able, will be in coupon or registered form, and whether the same
will be registrable 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 right to reject any or all bids received. In lieu of