342                             LAWS OF MARYLAND                      [CH. 181

shall cease to be such officer before the delivery thereof, such sig-
nature 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 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 Harford County or such other official of the County designated to
receive such payment in a resolution passed by the Board of County
Commissioners of Harford 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 primarily
among banks and investment bankers. At least one publication 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 ac-
companied 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 aggregate par amount
thereof, the schedule of maturities thereof, the interest payable there-
on, or the method of determining the same, the purpose to which the
proceeds thereof will be devoted, and the general form thereof, in-
cluding a statement whether said bonds will be redeemable, will be
in coupon or registered form, and whether the same will be register-
able 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 so elect in said