662                              Laws of Maryland                        Ch. 279

notice of sale, which shall briefly outline said terms and conditions
in accordance with the provisions hereof by an appropriate resolu-
tion. 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 pri-
marily among banks and investment bankers. At least one publica-
tion 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 determinate
amount as security for compliance by the bidder 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 thereof, the interest pay-
able 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 redeem-
able, will be in coupon or registered 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 obtained and, finally shall reserve unto the
County the right to reject any or all bids received. In lieu of pub-
lishing said entire notice of sale, the County may, if it shall so elect
in said resolution, publish 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. 2. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 22, 1970

CHAPTER 279
(Senate Bill 392)

AN ACT to repeal and re-enact, with amendments, Section 1 of
Chapter 137 of the 1966 Laws of Maryland, as amended by Section
1 of Chapter 160 of the 1968 Laws of Maryland, to provide for
an increase in the interest rate on notes issued under said Chapter
which concerns the power of the County Commissioners of Carroll
County to borrow money for the purpose of acquisition of lands
for park and recreation areas.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 1 of Chapter 137 of the 1966 Laws of Maryland, as
amended by Section 1 of Chapter 160 of the 1968 Laws of Maryland,
be and it is hereby repealed and re-enacted, with amendments, to
read as follows: