J. MILLARD TAWES, Governor                      687

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 never-
theless 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 Calvert County or such
other official of the County designated to receive such payment in a
resolution passed by the Board of County Commissioners of Calvert
County before such delivery.

In addition to making provision for the above-described terms
and conditions of any group or series of bonds issued here-
under, 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 con-
ditions in accordance with the provisions hereof by an appropriate
resolution. 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 publi-
cation 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 re-
ceived 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 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 pay-
able 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 redeemable,
will be in coupon or registered form, and whether the same will be