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81
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MARVIN MANDEL, Governor
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and elsewhere in this article of the more
concise expression "to finance" is no less
expressive of this concept and is in no way
intended to modify the same.
The only other changes are in style.
3-203. PROCEDURE TO ISSUE; CONTENTS OF RESOLUTION.
THE RESOLUTION AUTHORIZING THE ISSUANCE OF
CONSOLIDATED TRANSPORTATION BONDS SHALL:
(1) DESCRIBE GENERALLY THE TRANSPORTATION
FACILITIES THE COST OF WHICH IS PROPOSED TO BE FINANCED
BY THE SALE OF BONDS;
(2) STATE THE ESTIMATED COST OF FINANCING THESE
FACILITIES; AND
(3) DETERMINE AND SPECIFY:
(I) THE DATE OR DATES OF ISSUE;
(II) THE DATE OR DATES AND AMOUNT OR AMOUNTS
OF MATURITIES, WHICH NEED NOT BE IN EQUAL PRINCIPAL
AMOUNTS OR CONSECUTIVE ANNUAL INSTALLMENTS;
(III) THE RATE OR RATES OF INTEREST PAYABLE
ON THE BONDS, OR THE MANNER OF DETERMINING THE RATE OR
RATES OF INTEREST, AND THE DATE OR DATES OF PAYMENT OF
INTEREST;
(IV) THE TENOR, FORM OR FORMS, DENOMINATION OR
DENOMINATIONS, MANNER OF EXECUTION, AND PLACE OR PLACES
OF PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
BONDS, WHICH MAY BE AT ANY BANK OR TRUST COMPANY WITHIN
OR WITHOUT THIS STATE;
(V) WHETHER THE BONDS ARE TO BE ISSUED IN
COUPON OR REGISTERED FORM OR BOTH AND WHETHER PROVISION
IS TO BE MACE FOR THE REGISTRATION OF THE PRINCIPAL ONLY
OF COUPON BONDS, FOR THE RECONVERSION OF FULLY REGISTERED
BONDS INTO COUPON FORM, AND FOR THE REPLACEMENT OF BONDS
THAT ARE MUTILATED, LOST, OR DESTROYED;
(VI) THE TERMS AND CONDITIONS OF THE PUBLIC
SALE OF THE BONDS;
(VII) THE FORM OF NOTICE OF SALE, WHICH SHALL
OUTLINE THE TERMS AND CONDITIONS OF THE SALE;
(VIII) THE FORM OF ADVERTISEMENT, WHICH SHALL
BE PUBLISHED AT LEAST ONCE IN A NEWSPAPER OF GENERAL
CIRCULATION IS BALTIMORE CITY AND, ALSO, AT LEAST ONCE IN
A JOURNAL HAVING A CIRCULATION AMONG BANKS AND INVESTMENT
BANKERS, AT LEAST ONE PUBLICATION OF WHICH SHALL BE
MADE NOT LESS THAN 10 DAYS BEFORE THE SALE OF BONDS;
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