666                             LAWS OF MARYLAND                      [CH. 417

Town, either at, above or below the par value of 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 6% per
annum, computed with relation to the absolute maturity of the bonds
in accordance with the 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 the Town of Upper Marlboro.

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 Town 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 papers having a general circu-
lation in Prince George's County, Maryland, and may also be pub-
lished 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 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 proposal and shall be accompanied by a good
faith deposit in a fixed or determinable amount as security for com-
pliance 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 pur-
pose to which the proceeds thereof will be devoted and the general
form thereof, including a statement whether said bonds will be re-
deemable, will be in coupon or registered form and whether the same
will be registered 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 Town or shall indicate where such
statement may be obtained, and finally, shall reserve unto the Town,
the right to reject any or all bids received. In lieu of publishing said
entire notice of sale the Town may, if it shall so elect in said reso-
lution, publish a brief summary of said notice, which need not contain
all the information required for said notice of sale, but which shall
state where interested parties may obtain a complete copy thereof.

Sec. 4. And be it further enacted, That the money so borrowed
for the system or sewers described in said resolution, above required,
in evidence of which any such bond shall be issued, shall be paid by
the Town Commissioners of Upper Marlboro, and shall be used ex-
clusively and solely for such system or sewers. In the event the
amount so borrowed shall prove inadequate for the financing of any
such system or sewers at any time, the Town may issue additional
bonds within the limitations hereof, for the purpose of evidencing