SPIRO T. AGNEW, Governor                      1483

of Article 31 of the Code of Public General Laws of Maryland (1957
Edition) but said County shall offer said bonds only by solicitation
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 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 rela-
tion to the absolute maturity of the bonds in accordance with stand-
ard tables of bond values, excluding, however, from such compu-
tation the amount of any redemption premium. Upon delivery of any
of said bonds to the purchaser or purchasers thereof, payment there-
for shall be made to the Treasurer of Harford County or such other
official of the County designated to receive such payment in a reso-
lution passed by the Board of County Commissioners of Harford
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 reso-
lution. 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
bidders 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 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 redeem-
able, will be in coupon or registered form, and whether the same
will be registrable as to principal, or as to both principal and in-
terest. 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.

Sec. 4. And be it further enacted, That the money so borrowed
for the public buildings described in said resolution above required,
in evidence of which any such bonds shall be issued, shall be paid