Marvin Mandel, Governor                           61

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 outline 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 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 deter-
mined. 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 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 654 of the Acts of 1969

Sec. 4. And be it further enacted, That, subject to the foregoing
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 in-
debtedness 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 con-
secutive annual installments. Subject to the limitations herein con-