SPIRO T. AGNEW, Governor                       615

bank or trust company within or without the state. The payment of
principal and interest of the bonds hereby authorized may be made
in any lawful medium. The authority shall determine the manner of
executing the bonds which may be by facsimile signature of its chair-
man, and the manner of executing the interest coupons attached
thereto which also may be by facsimile signature of its chairman;
the official seal of the authority shall be affixed to the bonds and they
shall be attested by its secretary. In case any officer whose signa-
ture 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.

(f) Sale. The authority may sell such revenue bonds in such
manner, either at public or private sale, and for such price, as it
may determine to be for the best interests of the authority [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 five SIX 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 pre-
mium to be paid on redemption of any revenue bonds prior to matur-
ity]. None of the provisions of Sections 9 to 11, inclusive, of
Article 31 of the Annotated Code of Maryland, 1957, and any amend-
ments thereto shall apply to the revenue bonds issued under the pro-
visions of this title.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved April 10, 1968.

CHAPTER 426
(House Bill 384)

AN ACT to repeal and re-enact, with amendments, Section 27-16
of the Baltimore County Code 1958, title "Baltimore County,"
subtitle "Title 27. Revenue Authority," subheading "Construction,
etc., contracts" to change the requirement for advertisement for
bids where the Baltimore County Revenue Authority enters into
contracts for any projects or any portions thereof or any im-
provements.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 27-16 of the Baltimore County Code 1958, title "Balti-
more County," subtitle "Title 27. Revenue Authority," subheading
"Construction, etc., contracts" be and the same is hereby repealed
and re-enacted, with amendments, to read as follows:

27-16. Construction, etc., contracts.

If any project or any portion thereof or any improvement thereof
shall be constructed, equipped or furnished pursuant to a contract
and the estimated cost thereof exceeds twenty-five hundred dollars