2634                               Municipal Charters

such borrowing or indebtedness. Each series or group of bonds shall be
issued to mature in annual serial installments, not exceeding thirty and
beginning not more than one year from the date of such bonds, as may be
determined by the resolution or resolutions of the county council authoriz-
ing such bonds, and no one of such installments shall be less than fifty
per centum of any other installment. The county shall have and is hereby
granted full and complete authority and discretion to fix and determine,
in the 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 the bonds shall respectively mature and be payable,
the manner of selling the 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 the County
Council by resolution, and such bonds may, by the 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 the
county council, either in the resolution or in subsequent resolutions, but
prior to the issuance of the bonds. The principal of and the interest of
such obligations may be made payable in lawful medium. The resolution
shall determine the form of such 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 denomina-
tions 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. In case any officer whose signature shall appear on any
such bond, or on 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. Such bonds, may, by any such resolution, be issued in coupon
or in registered form, or both, and provision may be made for the registra-
tion of the bonds having coupons attached, as to principal alone and also
as to both principal and interest, and for the reconversion of the 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 provi-
sions of sections 9, 10 and 11 of article 31 of the Annotated Code of
Maryland, (1967 Replacement Volume), as amended from time to time,
but the county shall offer such bonds only by solicitation of competitive
bids therefor at public sale. Such 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.

In addition to making provision for the above described and condi-
tions of any group or series of bonds issued hereunder, the above mentioned
resolution of the county council shall likewise fix the terms and conditions
of the public sale of such group or series of bonds and the resolution shall
adopt a suitable form of notice of sale, which shall briefly outline the
terms and conditions in accordance with the provisions hereof. Such
notice shall be published at least twice 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. The sale of such bonds shall be held not
sooner than ten days following the first publication of such notice. Such
notice shall offer the bonds to the highest bidder or bidders therefor,
and shall state how such highest bidder or bidders will be determined.
The notice of sale shall specify the date, place and hour at which bids
for the bonds will be received and opened and the bonds awarded. It shall