HARRY HUGHES, Governor

1749

made for the registration of said bonds having coupons
attached, as to principal alone and also as to both
principal and interest, and for the reconversion of said
bonds into coupon form if any of such bonds shall have been
registered as to both principal and interest. Such bonds
shall not be subject to the provisions of Sections 9, 10,
and 11 of Article 31 of the Code of Public General Laws of
Maryland (1976 Replacement Volume), as amended from time to
time, but said county shall offer said bonds only by
solicitation of competitive bids therefor at public sale.
Said bonds may be sold for such price or prices as may be
determined to be for the best interests of the county,
either at, above, or below the par value of any such bonds.
Upon delivery of any of said bonds to the purchaser or
purchasers thereof, payment therefor shall be made to the
Treasurer of Carroll County.

In addition to making provisions for the above
described terms and conditions of any group or series of
bonds issued hereunder, the above mentioned resolution of
the county shall likewise fix the terms and conditions of
the public sale of such group or series of bonds, and said
resolution 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 the county, and
may also be published in one or more journals having a
circulation primarily among banks and investment bankers.
The sale of said bonds shall be held not sooner than ten
(10) days following the first publication of said notice.
Said notice shall state how the best bid will be determined.
Said notice of sale 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 whether the same will be registerable as to
principal, or as to both principal and interest. Each such
notice of sale 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 said entire notice of sale,
the county may, if it shall so elect in said resolution,
publish a brief summary of said notice which need not