3234                                         LAWS OF MARYLAND                                     Ch. 713

In addition to making provisions for the above described
terms and conditions of any group or series of bonds issued
hereunder, IF THE COUNTY DETERMINES IN THE RESOLUTION TO OFFER
ANY OF THE BONDS BY SOLICITATION OF COMPETITIVE BIDS AT PUBLIC
SALE, 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 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 contain all the
information required for said notice but which shall state where
interested parties may obtain a complete copy therefor.

NOTWITHSTANDING THE PROVISIONS FOR THE OFFER OF BONDS BY
SOLICITATION OF COMPETITIVE BIDS AT PUBLIC SALE, IN THE EVENT
THAT THE COUNTY ISSUES, SELLS AND DELIVERS NOT MORE THAN $250,000
IN AGGREGATE PRINCIPAL AMOUNT OF BONDS HEREUNDER IN ANY THIRTY
DAY PERIOD, THE COUNTY MAY ELECT TO OFFER SUCH BONDS FOR SALE TO
A LIMITED NUMBER OF POTENTIAL PURCHASERS, TOTALLING NOT LESS THAN
FIVE, ON A COMPETITIVE BASIS. THE POTENTIAL PURCHASERS SHALL BE
BANKS, FINANCIAL INSTITUTIONS, OR OTHER POTENTIAL PURCHASERS
SELECTED BY THE COUNTY TO PARTICIPATE IN THE LIMITED OFFERING,
UPON ADVICE OF LEGAL COUNSEL AND UPON ADVICE OF THE COUNTY'S
FINANCIAL ADVISOR, IF ANY. THE ABOVE-MENTIONED RESOLUTION OF THE
COUNTY SHALL FIX THE TERMS AND CONDITIONS OF THE OFFERING OF ANY
GROUP OR SERIES OF BONDS ISSUED AND SOLD HEREUNDER ON A LIMITED
OFFERING BASIS, AND SAID RESOLUTION SHALL ADOPT A SUITABLE FORM