1946                             Laws of Maryland                       Ch. 686

payment therefor shall be made to the Treasurer of Harford 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 Harford 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
conditions in accordance with the provisions hereof by an appro-
priate 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 publication 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 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 proposal 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 au-
thority for the bonds and shall state the date of issue of the bonds
offered, the total aggregate par amount thereof, the schedule of
maturities thereof, 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 regis-
tered form, and whether the same will be registrable as to principal,
or as to both principal and interest. Each such notice of sale shall
also contain a brief summary of the current financial condition of
the County or shall indicate where such a statement may be ob-
tained and, finally, shall reserve unto the County the right to reject
any or all bids received. In lieu of publishing said entire notice
of sale, the County may, if it shall so elect in said resolution, pub-
lish a brief summary of said notice which need not contain all the
information required for said notice of sale but which shall state
where interested parties may obtain a complete copy thereof.

Sec. 4. And be it further enacted, That the money so borrowed
for the public school or schools described in said resolution above
required, in evidence of which any such bonds shall be issued, shall
be paid by the County to the County Commissioners of Harford
County and the Board of Education of Harford County, to be used
in the joint discretion of the members of said County Commis-
sioners and the Board of Education and under their joint super-
vision and direction and subject to their joint order, exclusively
and solely for such public school or schools. In the event the amounts
so borrowed shall prove inadequate for the financing of any such
public schools, at any time the County may issue additional bonds
within the limitations hereof for the purpose of evidencing the
borrowing of additional funds for any such public school, provided
the resolution for authorizing the additional bonds shall so recite,
but if the funds derived from the sale of any issue of said bonds
shall exceed the amount needed to finance the public school or schools