Marvin Mandel, Governor                         883

Sec. 4. 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 public buildings for which said borrowing or indebted-
ness is intended, the amount needed for said purposes in the aggre-
gate, and determining to borrow money or incur indebtedness 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 install-
ments. Subject to the limitations herein contained, said County shall
have and is hereby granted full and complete authority and discre-
tion 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 as may be determined, 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, 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 denomi-
nation or denominations of the bonds and the place or places of pay-
ment of the principal and interest thereon, which may be at any
bank and 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
(1971 Replacement Volume), as amended from time to time, but
said County shall offer said bonds only by solicitation 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.