24                                Laws of Maryland                          Ch. 7

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 provision 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 (1967 Replacement Volume), 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 interest 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%)] eight per centum (8%)
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 Harford County or such other official of the County designated
to receive such payment in a resolution 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 conditions
in accordance with the provisions hereof by an appropriate resolu-
tion. 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. 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 determinable
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 pay-
able 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 redeem-
able, will be in coupon or registered form, and whether the same
will be registrable as to principal, or as to both principal and in-
terest. Each such notice of sale shall also contain a brief summary
of the current financial condition of the County or shall indicate