2778                            County Local Laws

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.
In addition to making provision for the above described terms
and conditions of any group or series of bonds issued hereunder,
the above mentioned order of the County Executive shall like-
wise fix the terms and conditions of the public sale of such group
or series of bonds and shall adopt a suitable form of notice of
sale, which shall briefly outline the terms and conditions in
accordance with the provisions hereof. Such notice shall be pub-
lished 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 such bonds
shall be held not sooner than ten days following the first publica-
tion of such notice. Such notice shall offer the bonds to the high-
est bidder or bidders therefor, and shall state how such highest
bidder or bidders will be determined. The notice of sale shall
specify the date, place and hour at which bids for the 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 pro-
posal and shall be accompanied by a good faith deposit in a fixed
or determinate amount as security for compliance by the bidder
with his bid. The notice shall refer to the authority for the bonds
and shall state the date of issue of the bonds offered, the total
aggregate par amount thereof, the schedule of maturities thereof,
the interest payable thereon, or the method of determining the
same, the purpose to which the proceeds thereof will be devoted,
and the general form thereof, including a statement whether
such bonds will be redeemable, will be in coupon or registered
form, and whether the same will be registerable as to principal,
or as to both principal and interest. Each such notice of sale
shall also contain a brief summary of the current financial con-
dition of the County or shall indicate where such a statement
may be obtained and, finally, shall reserve unto the county the
right to reject any or all bids received. In lieu of publishing the
entire notice of sale, the County Executive may, if he shall so
elect in the order, publish a brief summary of the notice which
summary need not contain all the information required by law
to be contained in the notice but which shall state where in-
terested parties may obtain a complete copy thereof.

Sec. 4. Section 2-114 of the Montgomery County Code 1965, title
"General Local Laws," chapter "Administration," article "Finance
and Taxation Generally," division "Financing Public Facilities
Generally," be and the same is hereby repealed and re-enacted, with
amendments, to read as follows:

The award of any bonds issued pursuant to this division shall

be made by the County Executive or by the Chief Administrative