HARRY HUGHES, Governor

745

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds
shall be issued pursuant to a resolution of the County which
shall describe generally the hospital improvements for which
the proceeds of the bond sale are intended and the amount
needed for those purposes. The County shall have and is
hereby granted full and complete authority and discretion in
the resolution to fix and determine with respect to the
bonds of any issue: the designation, date of issue,
denomination or denominations, form or forms and tenor of
the bonds; the rate or rates of interest payable thereon, or
the method of determining the same; the date or dates and
amount or amounts of maturity, which need not be in equal
par amounts or in consecutive annual installments, provided
only that no bond of any issue shall mature later than
thirty (30) years from the date of its issue; the manner of
selling the bonds, which may be at either public or private
sale, for such price or prices as may be determined to be
for the best interests of the County; the manner of
executing and sealing the bonds, which may be by facsimile;
the place or places of payment of the principal of and the
interest on the bonds, which may be at any bank or trust
company within or without the State of Maryland; and
generally all matters incident to the terms, conditions,
issuance, sale, and delivery thereof.

The bonds may 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 the County
prior to the issuance of the bonds, either in the resolution
or in subsequent resolutions. The bonds may be issued in
coupon, or in registered form, or both, and provision may be
made for the registration of the principal only of bonds
having coupons attached, and for the reconversion of bonds
into coupon form if any bond has been registered as to both
principal and interest. In case any officer whose signature
appears on any bond or on any coupon attached thereto ceases
to be such officer before the delivery thereof, such
signature shall nevertheless be valid and sufficient for all
purposes as if he had remained in office until such
delivery. The bonds, and the issuance and sale thereof,
shall be exempt from the provisions of Sections 9, 10, and
11 of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume).

If the County determines in the resolution to offer any
of the bonds by solicitation of competitive bids at public
sale, the resolution shall fix the terms and conditions of
the public sale, and shall adopt a form of notice of sale,
which shall outline the terms and conditions, and a form of
advertisement, which shall be published in one or more daily
or weekly newspapers having a general circulation in the
County, and which may also be published in one or more
journals having a circulation primarily among banks and
investment bankers. At least one publication of the
advertisement shall be made not less than ten (10) days
before the sale of bonds.