SPIRO T. AGNEW, Governor                        503

for at more than six per centum (6%) per annum, computed with rela-
tion 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 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, by an appropriate resolution, 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 conditions in accordance with the provisions hereof. 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 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 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 au-
thority 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 re-
ceived. 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. 5. And be it further enacted, That the money so borrowed
for the public facilities described in said resolution above required, in
evidence of which any such bonds shall be issued, shall be paid to
the Treasurer of Prince George's County (or to 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) and shall be used exclusively and solely for
such public facilities. In the event the amount so borrowed shall
prove inadequate for the financing of any such public facilities, at
any time, the County may issue additional bonds within the limitations