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Session Laws, 1963
Volume 671, Page 781   View pdf image (33K)
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J. MILLARD TAWES, Governor                      783

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 arriv-
ing at the same, the date or dates upon which said bonds shall re-
spectively 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. Said bonds shall be dated, shall
bear interest at such rate or rates not exceeding five per centum
(5%) 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
the 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 bond, or on the coupons attached
thereto, shall cease to be such officer before the delivery thereof,
such signature shall nevertheless be valid and sufficient for all pur-
poses the same as if he had remained in office until such delivery.
Said bonds may, by such resolution, be issued in coupon or in regis-
tered 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 reg-
istered 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 five per
centum (5%) per annum, computed with relation to the absolute
maturity of the bonds in accordance with standard tables of bond
values, excluding, however, from 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 Prince George's County.

In addition to making provision for the above described terms and
conditions of said bonds, the above mentioned resolution of the
County shall likewise fix the terms and conditions of the public sale
of such 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 pub-
lished at least twice 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

 

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Session Laws, 1963
Volume 671, Page 781   View pdf image (33K)
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