HARRY HUGHES, Governor

2645

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 public facilities construction,
improvement, or development of public facilities 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
twenty-five (25) 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, or of both
principal and interest, 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).

In the event 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.