SPIRO T. AGNEW, Governor                      1291

and interest, and for the reconversion of said bonds into coupon
form if any such bonds shall have been registered as to both prin-
cipal 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 (1967 Replacement Volume) but said County
shall offer said bonds only by solicitation of competitive bids there-
for 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 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 Treasurer
of Prince George's County or such other official of the County desig-
nated 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 conditions
in accordance with the provisions hereof by an appropriate resolu-
tion. 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 pri-
marily among banks and investment bankers. At least one publica-
tion 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 deter-
minable 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 pur-
pose 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 contain 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.