686                               Laws of Maryland                      [Ch. 334

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 made payable in any lawful
medium. Said resolution shall determine the form of said bonds, in-
cluding 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 re-
mained 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 (1971 Replacement Volume), as amended from time to
time, but said County shall offer said bonds only by solicitation of com-
petitive 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 require the pay-

ment of interest on the money received therefor at more than six
per centum (6%) per annum, computed with relation to the absolute
maturity of the bonds in accordance with standard tables of bond
values, excluding, however, from such computation the amount of
any redemption premium. Upon delivery of any of said bonds to the
purchaser or purchasers thereof, payment therefor shall be made to
the Treasurer of Frederick County.

In addition to making provision for the above described terms and
conditions of any group or series of bonds issued hereunder, the
above mentioned resolution of the county shall likewise fix the terms
and conditions of the public sale of such group or series of bonds, and
said resolution shall adopt a suitable form of notice of sale, which
shall briefly outline said terms and conditions in accordance with the
provisions hereof. Said notice shall be published at least twice 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 primarily among banks and investment bankers. The
sale of said bonds shall be held not sooner than ten (10) days follow-
ing the first publication of said notice. 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