746                              Laws of Maryland                       Ch. 346

Sec. 3. And be it further enacted, That the bonds shall be issued
pursuant to a resolution of the County which shall describe generally
the public school or schools for which the proceeds of the bond sale
are intended and the amount needed for those purposes. The County
shall have and is hereby granted full and complete authority and
discretion in the resolution to fix and determine with respect to the
bonds of any issue;: the designation, date of issue, denomination or
denominations, form or forms and tenor of the bonds; the rate or
rates of interest payable thereon, or the method of determining the
same; the date or dates and amount or amounts of maturity, which
need not be in equal par amounts or in consecutive annual install-
ments, provided only that no bond of any issue shall mature later
than thirty (30) years from the date of its issue; the manner of
selling the bonds, which may be at either public or private sale,
for such price or prices as may be determined to be for the best
interests of the County; the manner of executing and sealing
the bonds, which may be by facsimile; the place or places of
payment of the principal of and the interest on the bonds, which
may be at any bank or trust company within or without the State of
Maryland; and generally all matters incident to the terms, conditions,
issuance, sale and delivery thereof.

The bonds may 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 prior to the issuance of
the bonds, either in the resolution or in subsequent resolutions. The
bonds may be issued in coupon or in registered form or both, and
provision may be made for the registration of the principal only of
bonds having coupons attached, and for the reconversion of bonds
into coupon form if any such bonds shall have been registered as to
both principal and interest. 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 as if he
had remained in office until such delivery. The bonds, and the issu-
ance and sale thereof, shall be exempt from the provisions of Sections
9, 10 and 11 of Article 31 of the Annotated Code of Maryland (1967
Replacement Volume).

In the event the County determines in the resolution to offer any
of the bonds by solicitation of competitive bids at public sale, the
resolution shall fix the terms and conditions of the public sale and
shall adopt a form of notice of sale, which shall outline said terms
and conditions, and a form of advertisement which shall be pub-
lished in one or more daily or weekly newspapers having a general
circulation in the County and which may also be published in one
or more journals having a circulation primarily among banks and
investment bankers. At least one publication of the advertisement
shall be made not less than ten (10) days before the sale of bonds.

Upon delivery of any bonds to the purchaser or purchasers thereof,
payment therefor shall be made to the Treasurer of Talbot County
or such official of the County designated to receive such payment
in a resolution passed by the Board of County Commissioners of
Talbot County before such delivery.

Sec. 4. And be it further enacted, That the net proceeds of the
sale of bonds shall be paid to the Board of Education of Talbot
County and shall be used by said Board exclusively and solely for the