Marvin Mandel, Governor                          59

County or such other official of the County designated to receive such
payment in a resolution passed by the Board of County Commis-
sioners 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, by an appropriate resolution, 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 out-
line said terms and conditions in accordance with the provisions
hereof. 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 pri-
marily among banks and investment bankers. At least one publica-
tion 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 security for complaince 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 pur-
pose 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 738 of the Acts of 1968

Sec. 3. And be it further enacted, That subject to the foregoing
limitations, the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a reso-
lution describing the transit 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