960

LAWS OF MARYLAND

Ch. 276

serial installments, the last installment to mature not later
than 25 years from the date of issue of said group or series. In
said resolution, said County shall fix the annual serial maturity
plan with respect to the bonds to be issued thereunder, and said
annual serial maturities shall be so fixed as to conform to the
general financial plans of the County, but need not be in equal
par amounts or in consecutive annual installments. Subject to
the limitations herein contained, said County shall have and is
hereby granted full and complete authority and discretion to fix
and determine, in said resolution, the form and tenor of any
such bonds, the rate or rates of interest payable thereon, or the
method of arriving at the same, the date or dates upon which said
bonds shall respectively mature and be payable, the manner of
selling said bonds at public 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 as may be determined, payable
semiannually, shall mature at such time or times as may be
determined by said resolution, and 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, either in said resolution or in subsequent resolutions,
but prior to the issuance of said bonds. The principal of and
the interest on said bonds may be made payable in any lawful
medium. Said resolution shall determine the form of said bonds,
including any interest coupons to be attached thereto, and the
manner of executing and sealing the same, which may be facsimile,
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 and 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 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, 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 Code of Public General Laws of Maryland (1983 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