HARRY HUGHES, Governor                                      3233

issue its bonds to evidence such borrowing or indebtedness. Each
series or group of said bonds shall be issued to mature in annual
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 OR ON A LIMITED OFFERING BASIS,
AS HEREINAFTER PROVIDED, 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 ANNOTATED Code of
[Public General Laws of] Maryland (1983 Replacement Volume AND
1984 SUPPLEMENT), as amended from time to time, but said County
shall offer said bonds [only] by solicitation of competitive bids
therefore at public sale OR ON A LIMITED OFFERING BASIS, AS
HEREINAFTER PROVIDED. 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.