1686                             Laws of Maryland                       Ch. 581

be designated as "Cecil County Union Hospital Construction Bonds,"
PROVIDED THAT NO BONDS SHALL BE OFFERED FOR
SALE BEFORE JANUARY 1, 1971. The money borrowed pursu-
ant to the authority hereby conferred shall be expended in the manner
hereinafter described solely for the purpose of financing the building,
expansion and capital improvement of and to the Union Hospital,
situated in Elkton, Cecil County, for equipment used in connection
therewith, and for the payment of architects' and other professional
fees in connection therewith.

Sec. 2. And be it further enacted, That subject to the limitations
herein contained, the bonds hereby authorized shall be dated, shall
bear interest at such rate or rates, shall mature at such time or times
not exceeding twenty (20) years from their date or dates, as may be
determined by the County Commissioners of Cecil County, and may
be made redeemable before maturity, at the option of the County
Commissioners, at such price or prices and under such terms, and
conditions as may be fixed by the County Commissioners prior to
the issuance of said bonds. In the event any such bonds shall be
issued to mature and be payable on the serial maturity plan,
then the schedule of maturities of said issue of bonds shall be
so arranged that one-twentieth (1/20) of the principal amount
(EXCEPT FOR ANY ADJUSTMENTS IN THE MATURITY
SCHEDULE NECESSARY TO PERMIT THE DIVISION OF
THE PRINCIPAL AMOUNT OF THE BONDS ISSUED AT
ANY ONE TIME INTO TWENTY APPROXIMATELY EQUAL
ANNUAL PAYMENTS) thereof shall mature and be retired
in each consecutive year accounting from the date of issue
thereof. The County shall determine the form and the man-
ner of executive of any of said bonds, including any interest
coupons to be attached thereto, and shall fix the denomination or
denominations of the bonds and the place or places of payment of
principal or interest, which may be at any bank or trust company
within or without the State. The County Commissioners are hereby
empowered to provide that the County seal to be affixed to said
bonds may be imprinted thereon in facsimile, and that all signatures
and counter-signatures on said bonds and the coupons attached
thereto may likewise be in facsimile except that at least one of said
signatures on each bond shall be manually affixed. In case any
official whose signature or facsimile of whose signature shall appear
on any such bonds or coupons shall cease to be such official before the
delivery of such bonds, or shall become such an official between the
date of issue and date of delivery thereof, such signature or such
facsimile will nevertheless be valid and sufficient for all purposes
the same as if he had remained in office until such delivery or had
taken office prior to said date of issue. The bonds may be issued in
coupon or in registered form, or both, as the County Commissioners
may determine, and provisions may be made for the registration of
any coupon bonds as to principal alone and also as to both principal
and interest, and for the reconversion into coupon bonds any bonds
registered as to both principal and interest, and for the interchange
of registered and coupon bonds. The County Commissioners may sell
any such bonds in such manner either at public or private sale, and
for such price or prices, as it may determine to be for the best
interests of the County. In the event the County shall sell or offer
for sale at public sale any of the bonds hereby authorized, such sale
shall be conducted in the manner prescribed by Sections 10 and 11 of