MARVIN MANDEL, Governor                         1589

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 [(1957 Edition and 1964 Cumulative Supplement)]
(1967 Edition and 1968 Supplement) as amended from time to time,
but said County shall offer said bonds only by solicitation of com-
petitive 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 price so low as to require the pay-
ment 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 premium. Upon delivery of any of said bonds to the
purchaser or purchasers thereof, payment therefor shall be made to
the Treasurer of Frederick County.

In addition to making provision for the above described terms and
conditions of any group or series of bonds issued hereunder, the
above mentioned resolution of the county shall likewise fix the terms
and conditions of the public sale of such group or series of bonds, and
said resolution 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 at least twice 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. The
sale of said bonds shall be held not sooner than ten (10) days follow-
ing the first publication of said notice. 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