1390                             LAWS OF MARYLAND                        [CH. 650

provisions for approval of the legality of the bonds, and may contain
a financial statement of the code county. All or any of the foregoing
provisions which may be included in any such notice of sale also may
be separately set forth in a circular or official statement.

(iv) Specific provision for the appropriation and disposal of the
proceeds of sale of the bonds and a specific provision for the pay-
ment of the principal thereof and the interest thereon, which pro-
vision shall specify the source or sources of payment and shall con-
stitute a convenant binding the county to provide the funds from
the source or sources as and when principal and interest are due and
payable.

(5) Each resolution shall be adopted by the Board of County
Commissioners of the code county in the manner followed in the
usual course of considering resolutions in the government of the
county, but it shall not be necessary to submit any resolution or the
question of the issuance of bonds authorized thereby to a referendum
of the registered voters of the county. Each resolution may contain
such other provisions, not inconsistent with this subtitle, as the
Board of County Commissioners of the county may deem appropriate.
With respect to any bonds of a code county, the resolution authoriz-
ing them may provide:

(i) That the principal of and interest on the bonds shall be
payable at one or more banks or trust companies, which may be
either within or without the State; and

(ii) That the official signatures and seals to be affixed to the
bonds, or the coupons if any attached thereto., except the signature
of the clerk or secretary of the code county which shall be manually
affixed, shall be imprinted on the bonds or coupons in facsimile; and

(iii) That the bonds shall be redeemable in whole or in part at
the option of the code county at any time prior to the respective
maturities thereof at a price, either at or above the par value of
the bonds as the code county may prescribe in the resolution, pro-
vided that the bonds contain a statement of the redemption pro-
visions and provided further that the resolution shall make provision
for due and proper prior published notice of any redemption; and

(iv) That this issue of bonds shall be in varying denominations
and shall be in coupon form, registrable as to principal only, or in
fully registered form, or both, provided that if both forms are au-
thorized, they shall be interchangeable; and

(v) That, in the event any official whose signature appears on
the bonds ceases to be an official prior to the delivery of the bonds, or,
if the official whose signature appears on the bonds shall have be-
come such after the date of issue thereof, the bonds nevertheless
shall be valid and binding obligations of the county in accordance
with their terms.

16. Limitations on authority of code counties.

The authority conferred on code counties by this subtitle is sub-
ject to the following limitations:

(1) No bonds shall be issued by any code county to mature later
than forty years from their respective date of issue; and