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1453
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HARRY HUGHES, Governor
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the manner of selling said bonds at private or public sale, and
generally all matters incident or necessary to the issuance, sale
and delivery thereof and to prescribe sinking fund and debt
service reserve fund provisions, if any, relating to said bonds.
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 said County prior to the
issuance of the bonds, either in said resolution or in subsequent
resolutions. The principal of and the interest on said bonds may
be made payable in any lawful medium. Said resolution shall
determine the manner of executing and sealing said bonds, which
may be by facsimile and the place or places of payment of the
principal and interest thereon, which may be at any one or more
bank and trust company companies 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 signatures
shall nevertheless be valid and sufficient for all purposes the
same as if he had remained in office until such delivery. Said
bonds may, by any such resolution and as permitted by law, be
issued in coupon or registered form or both, and provision may be
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
Annotated Code 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 in such a manner and 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
Frederick County or such other official of Frederick County as
may be designated by resolution to receive such payment.
In addition to making provisions for the above described
terms and conditions of any issue or series of bonds issued
hereunder, in the event the bonds are to be sold at public sale
the above mentioned resolution of the County shall likewise fix
the terms and conditions of the public sale of such issue or
series of bonds, and said resolution shall adopt a suitable form
of notice of sale, which shall outline said terms and conditions.
Said Any such 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 Any public sale of said bonds shall be held not
sooner than ten (10) days following the first publication of said
notice.
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