56                                 Laws of Maryland                         Ch. 19

suing 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 indebt-
edness 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
consecutive annual installments. Subject to the limitations herein
contained, said County shall have and is hereby granted full and
complete 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
(6%) per annum], payable semi-annually, shall mature at such time
or times as may be determined 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 resolu-
tion 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 manner of executing and sealing the same, which
may be by facsimile, and shall fix the denomination or denomina-
tions of the bonds and the place or places of payment of the principal
and 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 nevertheless be valid and sufficient for all pur-
poses 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 registra-
tion 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 of 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 Maryland (1967 Replacement
Volume), as amended from time to time, 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 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,