SPIRO T. AGNEW, Governor                      1537

and conditions as may be fixed by said County, either in said resolu-
tion 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 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 pur-
poses 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 registra-
tion 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 (1967 Replacement
Volume), as amended from time to time, 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 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 pre-
mium. Upon delivery of any of said bonds to the purchaser or pur-
chasers thereof, payment therefor shall be made to the Treasurer of
Dorchester County or such other official of the County designated
to receive such payment in a resolution passed by the Board of
County Commissioners of Dorchester 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, by an appropriate resolution, 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. 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 pub-
lication 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