2404                                          LAWS OF MARYLAND                                      Ch. 432

to be pledged or assigned to the payment of principal of and
interest on the bonds; and generally all matters incident to the
terms, conditions, issuance, sale and delivery of the bonds.

The County may enter into agreements ' with agents, banks,
fiduciaries, insurers or others for the purpose of enhancing the
marketability of and security for the bonds and for the purpose
of securing any tender option that may be granted to holders of
the 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 the County prior to the
issuance of the bonds, either in the resolution or in subsequent
resolutions of the Board. 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, the signature shall nevertheless be valid
and sufficient for all purposes as if the officer 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 (1983
Replacement Volume), as amended from time to time.

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.

Upon delivery of any bonds to the purchaser or purchasers,
payment therefor shall be made to the Director . of Finance of
Charles County or such other official of the County as may be
designated to receive such payment in a resolution adopted by the
Board before delivery.

SECTION 4. AND BE IT FURTHER ENACTED, That the net proceeds
of the sale of the bonds shall be used and applied exclusively
and solely for financing the public facilities. If the net
proceeds of the sale of any issue of bonds exceeds the amount
needed to finance the public facilities described in the
resolution, the excess funds so borrowed and not expended shall
be applied to the payment of the next principal maturity of the