Marvin Mandel, Governor                       1825

places of payment of the principal and the 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 never-
theless 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 hav-
ing 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 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, but no such sale shall be made at price
so low as to require the payment of interest on the money received
therefor at more than eight per centum (8%) per annum, computed
with relation to the absolute maturity of the bonds in accordance
with standard tables of bond values, excluding, however, from such
computation the amount of any redemption premium. Upon delivery
of any of said bonds to the purchaser or purchasers thereof, pay-
ment therefor shall be made to the Treasurer of Charles County
or such other official of the County designated to receive such pay-
ment in a resolution passed by the Board of County Commissioners
of Charles 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 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 condi-
tions in accordance with the provisions hereof by an appropriate
resolution. 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 publi-
cation 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 person(s), firm(s) or corporation(s) submitting the best bid
therefor, and shall state how said best bid 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 proposal and shall be accompanied by a good faith deposit in
a fixed or determinable amount as security for compliance by the bid-
der 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,
and the general form thereof, including a statement whether said
bonds will be redeemable, will be in coupon or registered form, and