42                                Laws of Maryland                         Ch. 18

to borrow money or incur indebtedness for all or a part of the
amount so needed, and to issue its bonds to evidence such borrow-
ing 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, the County shall fix the annual
serial maturity plan with respect to the bonds to be issued there-
under 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, the 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 deter-
mined 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 determine the form of said bonds,
including any interest coupons to be attached thereto, and the man-
ner 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 never-
theless 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 prin-
cipal 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 Gen-
eral Laws of Maryland (1967 Replacement Volume) but said County
shall offer said bonds only by solicitation of competitive bids there-
for 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 the amount of
any redemption premium]. Upon delivery of any of said bonds to
the purchaser or purchasers thereof, payment therefor shall be made