1482                            LAWS OF MARYLAND                       CH. 730

like par amount, upon the terms and conditions hereinafter set forth.
Such bonds may be issued from time to time, in one or more groups
or series, as funds for such public building construction or acqui-
sition become necessary, provided, however, that the total debt
which may be incurred pursuant to the authority of this Act shall
not exceed One Million, Five Hundred Thousand Dollars ($1,500,000).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing generally by classes the public buildings for which said
borrowing or indebtedness is intended, the amount needed for said
purposes, and determining to borrow money or incur indebtedness
for all or a part of the amount so needed, and to issue its bonds to
evidence such borrowing or indebtedness. Each series or group of
said bonds shall be issued to mature in annual serial installments,
the last installment to mature not later than thirty (30) years from
the date of issue of said group or series. In said resolution, said
County shall fix the annual serial maturity plan with respect to the
bonds to be issued thereunder and said annual serial maturities
shall be so fixed as to conform to the general financial plans of the
County but need not be in equal par amounts or in consecutive
annual installments. Subject to the limitations herein contained,
said County shall have and is hereby granted full and complete
authority and discretion to fix and determine, in said resolution, the
form and tenor of any such bonds, the rate or rates of interest
payable thereon, or the method of arriving at the same, the date
or dates upon which said bonds shall respectively mature and be
payable, the manner of selling said bonds at public sale, and gen-
erally all matters incident or necessary to the issuance, sale and
delivery thereof. The bonds of each such issue shall be dated, shall
bear interest at such rate or rates not exceeding six per centum
(6%) per annum, payable semi-annually, shall mature at such time
or times as may be determined by said resolution, and said bonds
may, by said resolution be made redeemable before maturity, at the
option of the County, at such price or prices and under such terms
and conditions as may be fixed by said County, either in said reso-
lution or in subsequent resolutions, but prior to the issuance of said
bonds. The principal of and the interest on said bonds may be made
payable in any lawful medium. Said resolution shall determine the
form of said bonds, including any interest coupons to be attached
thereto, and the manner of executing and sealing the same, which
may be by facsimile, and shall fix the denomination or denomina-
tions of the bonds and the place or places of payment of the prin-
cipal and the interest thereon, which may be at any bank or trust
company within or without the State of Maryland. In case any offi-
cer 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 suf-
ficient 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 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