Marvin Mandel, Governor                        1799

sary, provided, however, that the total debt which may be incurred
pursuant to the authority of this Act shall not exceed Three Hun-
dred Twenty-Five Thousand Dollars ($325,000).

Sec. 3. 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 fire engine houses 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 in-
stallments the last installment to mature not later than thirty (30)
years from the date of issue of said group or series. In said resolu-
tion, said County shall fix the annual serial maturity plan with re-
spect 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
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 reso-
lution, 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 payable semi-annually, shall mature at such time
or times as may be determined 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 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
sufficient 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 attach-
ed, as to principal alone and also as to both principal and in-
terest, 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 Maryland (1967 Replacement Volume), as amended from
time to time, but said County shall offer said bonds only by solici-
tation of competitive bids therefor at public sale. Said bonds may