46                                Laws of Maryland                         Ch. 19

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 pub-
lished 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 following 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 pro-
posal 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 payable thereon, or the method of determin-
ing 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 prin-
cipal 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 re-
ceived. 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.

Chapter 888 of the Acts of 1965

Sec. 4. And be it further enacted, That, subject to the fore-
going limitations, the County shall, before borrowing any money
or issuing any bonds pursuant to the authority of this Act, adopt
a resolution describing the public facilities for which said borrowing
or indebtedness is intended, the amount needed for said purposes in
the aggregate, and determining to borrow money or incur indebted-
ness for all or a part of the amount so needed, and to issue its bonds
to evidence such borrowing 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, said County
shall fix the annual serial maturity plan with respect to the bonds
to be issued thereunder 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 install-
ments. Subject to the limitations herein contained, said County shall
have and is hereby granted full and complete authority and dis-