746                             LAWS OF MARYLAND                      [CH. 368

of payment of the principal and 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 nevertheless 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 of 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 and 1964 Cumulative Supplement) as amended from
time to time, but said County shall offer said bonds only by solicita-
tion 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 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 Frederick County.

In addition to making provision for the above described terms
and conditions of any group or series of bonds issued hereunder,
the above mentioned resolution of the county shall likewise fix the
terms and conditions of the public sale of such group or series of
bonds, and said resolution shall adopt a suitable form of notice of
sale, which shall briefly outline said terms and conditions in accord-
ance with the provisions hereof. Said notice shall be published at
least twice 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. The sale of said bonds shall be held not sooner
than ten (10) days following the first publication of said notice.
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 com-
pliance 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 registerable 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