Marvin Mandel, Governor                         475

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 the study preparatory to the construction of an additional
Court House and additional library facilities for which said borrow-
ing or indebtedness is intended, the amount needed for said purposes
in the aggregate, and determining to borrow money or incur indebt-
edness 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 in annual serial installments,
the last installment to mature not later than thirty (30) years from
the date of issue of said group or series. In said resolution, said
County shall fix the annual serial maturity plan with respect to the
bonds to be issued thereunder and said annual serial maturities shall
be so fixed as to conform to the general financial plans of the County
but need not be in equal par amounts or in consecutive annual
installments. 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 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 six per centum (6%) per annum AS MAY BE DETER-
MINED, 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 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 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 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 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 of 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 and 1964 Cumulative Supplement) as amended from
time to time, but said County shall offer said bonds only by solicita-
tion 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, either at, above or below the par value of

any such bonds, but no such sale shall be made at price so low as to