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3478 LAWS OF MARYLAND Ch. 9 17
discretion of the County, at private sale. Said bonds
may be sold for such price or prices as may be determined
to be in the best interests of the County, either at or
above the par value of any such bonds. Upon delivery of
any of said bonds to the purchaser of purchasers thereof,
payment therefor shall be made to the Treasurer of
Charles County or such other official of the County
designated to receive such payment in a resolution
adopted by the County before such delivery.
In addition to making provision for the
above—described terms and conditions of any group or
series of bonds issued hereunder, the County, by an
appropriate resolution, shall likewise fix the terms and
conditions of the public or private sale of such group or
series of bonds and, in the event that the County shall
elect to sell such bonds at public sale, 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 Charles County, and may
also be published in one or more journals having a
circulation primarily among banks and investment bankers.
At least one publication of the notice of sale shall be
made not less than ten (10) days before the sale of said
bonds, 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 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 and shall be
accompanied by a good faith deposit in a fixed or
determinable amount as security for compliance by the
bidder with his bid. Said notice shall refer to this Act
as 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 said bonds will be redeemable, will be
in coupon or registered form, and will be registrable as
to principal, or as to both principal and interest. Each
such notice shall also contain a brief summary of the
current financial condition 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 may, if it shall so
elect in said resolution, publish a brief summary thereof
which need not contain all the information required for
said notice but which shall state where interested
parties may obtain a complete copy thereof.
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SECTION 4. AND BE IT FURTHER ENACTED, That the
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