Ch. 745

LAWS OF MARYLAND

(3)  THE MANNER IN WHICH AND THE TERMS UNDER WHICH THE
BONDS ARE TO BE SOLD, WHETHER BY PUBLIC OR PRIVATE (NEGOTIATED)
SALE;

(4)  THE MANNER IN WHICH AND THE TIMES AND PLACES THAT
THE INTEREST ON THE BONDS IS TO BE PAID;

(5)  THE TIME OR TIMES THAT THE BONDS MAY BE EXECUTED,
ISSUED, AND DELIVERED;

(6)  THE FORM AND TENOR OF THE BONDS AND THE
DENOMINATIONS IN WHICH THE BONDS MAY BE ISSUED;

(7)  THE MANNER IN WHICH AND THE TIMES AND PLACES THAT
THE PRINCIPAL OF THE BONDS IS TO BE PAID, WITHIN THE LIMITATIONS
SET FORTH IN THIS SUBTITLE;

(8)  PROVISIONS UNDER WHICH ANY OR ALL OF THE BONDS
MAY BE CALLED FOR REDEMPTION PRIOR TO THEIR STATED MATURITY
DATES;

(9)  THE ACTIONS TAKEN BY THE LOCAL GOVERNING BODY TO
COMPLY WITH § 14-806 OF THIS SUBTITLE; OR

(10)  SUCH OTHER PROVISIONS NOT INCONSISTENT WITH THIS
SUBTITLE AS SHALL BE DETERMINED BY SUCH LEGISLATIVE BODY TO BE

NECESSARY OR DESIRABLE TO EFFECT THE FINANCING OF THE PROPOSED
UNDERTAKING.

14-808.

(A) ALL THE BONDS MAY BE IN BEARER FORM OR IN COUPON FORM OR
MAY BE REGISTRABLE AS TO PRINCIPAL ALONE OR AS TO BOTH PRINCIPAL
AND INTEREST. EACH OF THE BONDS SHALL BE DEEMED TO BE A
"SECURITY" WITHIN THE MEANING OF § 8-102 OF THE COMMERCIAL LAW
ARTICLE, WHETHER OR NOT IT IS EITHER ONE OR A CLASS OR SERIES OR
BY ITS TERMS IS DIVISIBLE INTO A CLASS OR SERIES OF INSTRUMENTS.

(B) ALL BONDS SHALL BE SIGNED MANUALLY OR IN FACSIMILE BY
THE CHIEF EXECUTIVE OFFICER OF THE LOCAL GOVERNING BODY, AND THE
SEAL OF THE LOCAL GOVERNING BODY SHALL BE AFFIXED THERETO AND
ATTESTED BY THE CLERK OR OTHER SIMILAR ADMINISTRATIVE OFFICER OF
THE LOCAL GOVERNING BODY. IF ANY OFFICER WHOSE SIGNATURE OR
COUNTERSIGNATURE APPEARS ON THE BONDS OR THE COUPONS CEASES TO BE
SUCH OFFICER BEFORE DELIVERY OF THE BONDS, HIS SIGNATURE OR
COUNTERSIGNATURE SHALL NEVERTHELESS BE VALID AND SUFFICIENT FOR
ALL PURPOSES THE SAME AS IF HE HAD REMAINED IN OFFICE UNTIL
DELIVERY.

(C) ALL BONDS SHALL MATURE NOT LATER THAN 40 YEARS FROM
THEIR DATE OF ISSUANCE. THE BONDS MAY BE ISSUED AS SERIAL BONDS
OR TERM BONDS WITH PROVISIONS FOR MANDATORY SINKING FUND OR OTHER

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