804                              Laws of Maryland                       Ch. 400

vention and watershed projects, as defined in Section 1 of this Act,
and, in order to make such financing possible, said County is hereby
granted the power and authority to borrow money and incur indebt-
edness for such purpose, from time to time, in an amount not exceed-
ing the sum of Two Million Dollars ($2,000,000) and to evidence
such borrowing by the issuance and sale upon its full faith and credit
of its general obligation bonds in like par amount, upon the terms
and conditions hereafter set forth. Such bonds may be issued from
time to time, in one or more groups or series, as funds for flood pre-
vention and watershed projects become necessary, provided, however,
that the total debt which may be incurred pursuant to the authority
of this Act shall not exceed Two Million Dollars ($2,000,000).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing generally the flood prevention and watershed projects for
which said borrowing or indebtedness is intended, the amount needed
for said purposes, and determining to borrow money or incur in-
debtedness for all or a part of the amount so needed, and to issue its
bonds to evidence such borrowing or indebtedness. Each series or
group of said bonds shall be issued to mature at such time or times,
not exceeding fifty (50) years from the date of issue of said group
or series, as may be determined by said County in said resolution.
Subject to the limitations herein contained, said County shall have
and is hereby granted full and complete authority and discretion to
fix and determine, in said 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 said bonds
shall respectively mature and be payable, the manner of selling said
bonds, either at public or private 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, payable semi-annually, shall mature at such time or
times as may be determined by said resolution, and said bonds may,
by said resolution be made redeemable before maturity, at the option
of the County, at such price or prices and under such terms and condi-
tions 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 signa-
ture 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 provision may be made for the registration 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