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Session Laws, 1970
Volume 695, Page 1758   View pdf image
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1758                               Laws of Maryland                         Ch. 618

resolution 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 de-
termine 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
denominations 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 suf-
ficient for all purposes the same as if he had remained in office
until such delivery. Said bonds may, by any such resolution, be is-
sued in coupon or in registered form or both, and provision may be
made for the registration 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 Mary-
land (1967 Replacement Volume), as amended from time to time,
but said County shall offer said bonds only by solicitation of compe-
titive 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. Upon delivery of any of said bonds to the purchaser or pur-
chasers thereof, payment therefor shall be made to the Treasurer
of Prince George's County or such other official of the County des-
ignated 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, 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 pub-
lication of the notice of sale shall be made not less than ten (10)
days before the sale of said bonds. Said notice 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 pro-
posal 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 there-
of, the interest payable thereon or the method of determining the
same, the purpose to which the proceeds thereof will be devoted,

 

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Session Laws, 1970
Volume 695, Page 1758   View pdf image
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