Marvin Mandel, Governor                          55

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 to the Treasurer of Prince
George's County or such other official of the County designated
to receive such payment in a resolution passed by the Board of
County Commissioners for Prince George's 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 appro-
priate resolution. 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 secur-
ity 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 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
interest. Each such notice of sale shall also contain a brief sum-
mary 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 sum-
mary of said notice which need not contain all the information
required for said notice of sale but which shall state where inter-
ested parties may obtain a complete copy thereof.

Chapter 688 of the Acts of 1968

Sec. 4. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or is-