Marvin Mandel, Governor                         1877

shall briefly outline the terms and conditions thereof in accordance
with the provisions of this and the following sections. In lieu of
publishing the entire notice of sale, in any instance, the county may,
if it so elects, in any such ordinance or resolution provide for the
publication of a brief summary of any such notice which need not
contain all or any of the information called for by Section 10 of
Article 31 of the Annotated Code of Maryland, 1957, but which
shall state where interested parties may obtain a complete copy of
any such notice of sale. Each such notice of sale may also contain
a brief summary of pertinent current financial information or indi-
cate from whom such information may be obtained. All accrued

interest between the date of such bonds and the time of sale and

delivery and payment for such bonds shall be adjusted with the pur-

chasers thereof.

19-33. Manner of accepting bids and making sale; term, interest

rate; exception.
19-23.

Upon the day mentioned in any such notice of sale or summary
thereof for opening the bids for the proposals thereby called for,
the county shall receive such sealed proposals for the purchase of
such bonds as may be designated in the notice of sale or summary
thereof. Subject to the provisions of Section 19-36 of this Code
SECTION 19-27 OF THIS SUBTITLE, upon the opening in public
of such sealed proposals, the bonds shall be awarded by the county
to the highest bidder or bidders therefor for cash, if the price(s)
bid are adequate in the judgment of the county WHOSE BID OR
BIDS ARE DETERMINED TO BE IN THE BEST INTEREST
OF THE COUNTY. If any of such bonds so offered for sale are not
bid for, or if any insufficient price be bid for them, they may be sub-
sequently disposed of under the direction of the county SOLD, IN
THE DISCRETION OF THE COUNTY, at a private sale upon
the best terms that can be obtained for the same, provided, that
they shall not be sold at private sale for less than par and accrued
interest. All payments of the purchase price of such bonds shall be
made to the county treasurer. Such bonds shall be designated "Cecil
County Sanitary District Bonds," and shall be serial bonds issued
upon the serial maturity plan SHALL BE IN SUCH FORM OR
FORMS, shall be of such denomination or denominations, and of
such period of maturity, not exceeding fifty years, and bear such
rate or rates of interest as the county may by ordinance or resolution
deem advisable. The bonds may be made redeemable, at the option
of the county, at such price and under such terms and conditions
as the county may determine by IN SAID ORDINANCE OR resolu-
tion. The bonds shall be executed on behalf of Cecil County, Mary-
land, by the chairman PRESIDENT of the County Commissioners,
WHOSE SIGNATURE MAY BE BY FACSIMILE, SHALL
HAVE THE CORPORATE SEAL OF THE COUNTY AFFIXED
THERETO AND SHALL BE AUTHENTICATED AND AT-
TESTED BY THE MANUAL SIGNATURE OF THE CLERK OF
THE COUNTY COMMISSIONERS OF CECIL COUNTY.

19-34. Exemption from taxation; maximum amount to be outstand-
ing, referendum not required.

The bonds issued pursuant to this division and the interest pay-

able thereon shall be and remain exempt from state, county and