MARVIN MANDEL, Governor                      1155

the amount of any redemption premium. Upon delivery of any of
said bonds to the purchaser or purchasers thereof, payment therefor
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 con-
ditions in accordance with the provisions hereof by an appropriate
resolution. 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
determinate 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 redeemable, will be in coupon or registered form, and
whether the same will be registrable as to principal, or as to both
principal and interest. 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,
in evidence of which any such bonds are issued, shall be paid over
from time to time by the County to Harford Memorial Hospital, Inc.,
a Maryland corporation operating the Harford Memorial Hospital
located at Havre de Grace, Harford County, upon a written notifica-
tion from hospital authorities as to the need for and the desired
application of any such monies. The monies may be paid over by
the county and used by the hospital only for the purpose of financing
the building, expansion, and other forms of capital improvements
for the Harford Memorial Hospital in Havre de Grace, Harford
County, the furnishing of equipment used in connection therewith,
and the payment of architects and other professional fees in connec-
tion therewith.