Marvin Mandel, Governor                           55

authorize the County Executive of Montgomery County to deter-
mine the form, denomination and manner of signature of bonds
issued for the purchase of voting machines.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 16-2(b)(l) of Article 33 of the Annotated Code of
Maryland (1969 Supplement) title "Elections," subtitle "Voting
Machines," be and is hereby repealed and re-enacted with amend-
ments to read as follows:

16-2.

(b) Bonds.

(1) The bonds of each issue shall be dated, shall bear interest at
such rate or rates not exceeding four per centum per annum, and
shall mature at such time or times, as may be determined by the
Board of County Commissioners or County Council of the county
issuing the same. They may be made redeemable before maturity at
the option of the Board of County Commissioners or County Council
at such price or prices and under such terms and conditions as may
be fixed by the County Commissioners or County Council prior to the
issuance of the bonds. The County Commissioners or County Council
and the County Executive of Montgomery County shall determine
the form of the bonds, including any interest coupons to be attached
thereto, and shall fix the denomination or denominations of the
bonds and the place or places of payment of principal and interest,
which may be at any bank or trust company within or without the
State. The bonds shall be signed by such officer or officers of the
county issuing the same, the seal of such county shall be affixed
thereto and attested in such manner, and any coupons attached
thereto shall bear the facsimile signature of such officer as the
County Commissioners or County Council and the County Executive
of Montgomery County shall determine. In case any officer whose
signature or a facsimile of whose signature shall appear on any bonds
or coupons shall cease to be such officer before the delivery of such
bonds, such signature or such facsimile shall nevertheless be valid
and sufficient for all purposes the same as if he had remained in
office until such delivery. All bonds issued under the provisions of
this section shall have and are hereby declared to have all the quali-
ties and incidents of negotiable instruments under the Uniform
Commercial Code of the State. The bonds may be issued in coupon
or in registered form, or both, as the County Commissioners or
County Council may determine, and provision may be made for the
registration of any coupon bonds as to principal alone and also as to
both principal and interest, and for the reconversion into coupon
bonds of any bonds registered as to both principal and interest. The
County Commissioners or County Council may sell such bonds in
such manner, either at public or private sale, and for such price as it
may determine to be for the best interest of the county, but no such
sale shall be made at a price so low as to require the payment of
interest on the money received therefor at more than four per
centum per annum, computed with relation to the absolute maturity
of the bonds in accordance with standard tables of bond values, ex-
cluding, however, from such computation the amount of any pre-
mium to be paid on redemption of any bonds prior to maturity. The
provisions of Sections 9 to 11, inclusive, of Article 31 of this Code,