140                              LAWS OF MARYLAND                      [CH. 103

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 Treas-
urer of Prince George's County or such other official of the County
designated to receive such payment in a resolution passed by the
Board of County Commissioners for Prince George's 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 condi-
tions 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 pub-
lication 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 accompanied by a good faith deposit in a fixed or de-
terminable 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 redeemable, 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 con-
tain 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 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