1474                           LAWS OF MARYLAND                     [CH. 887

notice of sale, which shall briefly outline said terms and conditions
in accordance with provisions hereof by an appropriate resolution.
Said notice shall be published in one or more daily or weekly news-
papers 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 determinate 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 the right to reject any or all bids received. In lieu of pub-
lishing said entire notice of sale, the County may, if it shall so
elect in said resolution, 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 public school or schools described in said resolution above
required, in evidence of which any such bonds shall be issued, shall
be paid by the County to the Board of Education of Prince George's
County and, by said Board, shall be used exclusively and solely for
such public school or schools. In the event the amounts so borrowed
shall prove inadequate for the financing of any such public schools,
at any time, the County may issue additional bonds within the
limitations hereof for the purpose of evidencing the borrowing of
additional funds for any such public school, provided the resolution
for authorizing the additional bonds shall so recite, but if the funds
derived from the sale of any issue of said bonds shall exceed the
amount needed to finance the public school or schools described in
said resolution, the excess funds so borrowed and not expended by
the Board of Education shall be returned to the County by said
Board and applied by said County in payment of the next principal
maturity of the bonds so issued or to the redemption of any part
of said bonds, if the same shall have been made redeemable, unless
said County shall adopt a resolution allocating said excess funds to
some other part of the school construction program of said Board
of Education.