1154                           LAWS OF MARYLAND                     [CH. 459

describing generally construction or improvements 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 generally 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 de-
termined 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 resolution or in sub-
sequent 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 denominations of
the bonds and the place or places of payment of the principal and
the 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 regis-
tration 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 of Article 31
of the Code of Public General Laws of Maryland (1957 Edition, as
amended) 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