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Session Laws, 1970
Volume 695, Page 1794   View pdf image
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1794                             Laws of Maryland                        Ch 639

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 resolution, 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, payable
semi-annually, shall mature at such time or times as may be deter-
mined 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 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 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 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 sufficient for all purposes 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 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 pro-
visions 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. Upon delivery of any of said bonds to
the purchaser or purchasers thereof, payment therefor shall be made
to the treasurer of Prince George's County or such other official
of the County designated 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 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
primarily among banks and investment bankers. At least one pub-

 

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Session Laws, 1970
Volume 695, Page 1794   View pdf image
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