Marvin Mandel, Governor                         455

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 not exceeding a net average interest rate of six percentum
(6%) per annum, payable semi-annually,] shall mature at such time
EACH SUCH ISSUE SHALL BE DATED AND SHALL MATURE
AT SUCH TIME or times as may be determined by said resolu-
tion, and said bonds may, by said resolution be made re-
deemable 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 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 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 provisions may be made for the regis-
tration 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 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 (1957 Edition) 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, but no such sale shall be made at a price below the par value
thereof.

In addition to making provisions 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.