SPIRO T. AGNEW, Governor                        877

(1) The bonds of each issue shall be dated, shall bear interest at
such rate or rates not exceeding four per centum per annum, and
shall mature at such time or times, as may be determined by the
board of county commissioners or county council of the county issu-
ing the same. They may be made redeemable before maturity at the
option of the board of county commissioners or county council at
such price or prices and under such terms and conditions as may be
fixed by the county commissioners or county council prior to the
issuance of the bonds. The county commissioners or county council
shall determine the form of the bonds, including any interest coupons
to be attached thereto, and shall fix the denomination or denomina-
tions of the bonds and the place or places of payment of principal
and interest, which may be at any bank or trust company within or
without the State. The bonds shall be signed by such officer or offi-
cers of the county issuing the same, the seal of such county shall be
affixed thereto and attested in such manner, and any coupons at-
tached thereto shall bear the facsimile signature of such officer as
the county commissioners or county council shall determine. In case
any officer whose signature or a facsimile of whose signature shall
appear on any bonds or coupons shall cease to be such officer before
the delivery of such bonds, such signature or such facsimile shall
nevertheless be valid and sufficient for all purposes the same as if he
had remained in office until such delivery. All bonds issued under
the provisions of this section shall have and are hereby declared to
have all the qualities and incidents of negotiable instruments under
the uniform commercial code of the State. The bonds may be issued
in coupon or in registered form, or both, as the county commis-
sioners or county council may determine, and provision may be made
for the registration of any coupon bonds as to principal alone and
also as to both principal and interest, and for the reconversion into
coupon bonds of any bonds registered as to both principal and inter-
est. The county commissioners or county council may sell such bonds
in such manner, either at public or private sale, and for such price as
it may determine to be for the best interest of the county, 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 four per centum
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 premium to be
paid on redemption of any bonds prior to maturity. The provisions
of Sees. 9 toll, inclusive, of Article 31 of this Code, and any amend-
ments thereto, shall not apply to bonds issued under the provisions
of this section.

(2)    The entire proceeds from the sale of any bonds issued under
the provisions of this section, after payment of all costs and expenses
incurred in connection with the preparation, sale and delivery of the
bonds, shall be used solely for the payment of the cost of the voting
machines for the purchase of which such bonds are issued. Any
balance remaining after the purchase of said voting machines shall
be used to pay the interest on or to redeem any of said bonds.

(3)    In order to pay the principal of and interest on said bonds
when and as the same become due and payable, the county commis-
sioners or county council issuing the same are hereby authorized
and directed to levy in each and every year in which any of said
bonds are outstanding upon the taxable basis of said county a tax
sufficient in rate and amount (i) if said bonds are issued in series