48                                Laws of Maryland                         Ch. 19

more daily or weekly newspapers having a general circulation in
the County, and may also be published in one or more journals hav-
ing 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 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 will be registrable as to principal, or as to both
principal 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
received. 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 207 of the Acts of 1967

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 in-
stallments, the last installment to mature not later than thirty (30)
years from the date of issue of said group or series. In said resolu-
tion, 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 con-
secutive annual installments. Subject to the limitations herein con-
tained, said County shall have and is hereby granted full and com-
plete authority and discretion to fix and determine, in said resolu-
tion, 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