MARVIN MANDEL, Governor                       1181

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 a net average interest rate of six per centum
(6%) per annum, payable semi-annually, shall mature at such time
or times as may be determined 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 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 deter-
mine 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 de-
nominations 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 purposes, 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 provisions may
be made for the registration 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 Mary-
land (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, but no such sale shall be made
at a price below the par value thereof.

In addition to making provisions 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 appro-
priate 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 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 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.