Ch. 417

LAWS OF MARYLAND

method of determining the same, which may include a variable
rate; the date or dates and amount or amounts of maturity, which
need not be in equal par amounts or in consecutive annual
installments, provided only that no bond of any issue shall
mature later than 30 years from the date of its issue; the manner
of selling the bonds, which may be at either public or private
sale, for such price or prices as may be determined to be for the
best interests of the. County; the manner of executing and sealing
the bonds, which may be by facsimile; the terms and conditions,
if any, under which bonds may be tendered for payment or purchase
prior to their stated maturity; the terms or conditions, if any,
under which bonds may or shall be redeemed prior to their stated
maturity; the place or places of payment of the principal of and
the interest on the bonds, which may be at any bank or trust
company within or without the State of Maryland; and generally
all matters incident to the terms, conditions, issuance, sale,
and delivery thereof.

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. 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, such signature shall nevertheless be
valid and sufficient for all purposes as if he 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.

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.

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 10 days before the sale
of the bonds.

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