BLAIR LEE III, Acting Governor

274 1

the manner of selling the bonds at public or private 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, payable semi-annually, shall mature at such time or
times and may be made redeemable before maturity, at the
option of the County, at such price or prices and under such
terms and conditions, all as may be determined by the County
in a resolution or resolutions adopted prior to the issuance
of the bonds. The principal of and the interest on the
bonds may be made payable in any lawful medium. The County
shall determine by resolution the form of the bonds,
including any interest coupons to be attached thereto, and
the manner of executing and sealing the same, which may be
by facsimile, provided that there shall be one manual
signature on each bond, and shall fix the denomination or
denominations of the bonds and the place or places of
payment of the principal and interest thereon, which may be
at any bank or 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. The bonds may be issued in coupon or in
registered form or both, and provision may be made for the
registration of the bonds having coupons attached, as to
principal alone and as to both principal and interest, and
for the conversion or reconversion, as applicable, of the
bonds into coupon form if any of such bonds shall have been
registered as to both principal and interest. The bonds
shall not be subject to the provisions of Sections 9, 10 and
11 of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume), as amended from time to time, and the
County may offer said bonds by solicitation of competitive
bids therefor at public sale or, at the discretion of the
County, at private sale. The 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.

In addition to making provision for the above—described
terms and conditions of any group or series of bonds issued
hereunder, the County shall fix by resolution 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
such terms and conditions in accordance with the provisions
hereof. The notice of sale shall be published at least
twice in one or more daily or weekly newspapers having a
general circulation in Cecil 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 bond sale. The notice of sale
shall offer the bonds to the highest bidder or bidders
therefor, state how the highest bidder or bidders will be