Ch. 539                                     1993 LAWS OF MARYLAND

(9) ANY OTHER MATTER RELATING TO THE FORM, TERMS,
CONDITIONS, ISSUANCE, SALE, AND DELIVERY OF THE BONDS.

(B)     (1) THE RESOLUTION MAY PROVIDE THAT THE SECRETARY MAY
POSTPONE THE TIME FOR RECEIPT OF PROPOSALS FOR THE BONDS WITHOUT
REPUBLISHING THE FORM OF ADVERTISEMENT FOR THE BONDS.

(2) (I) THE SECRETARY SHALL PROVIDE NOTICE OF THE NEW DATE
AND TIME OF SALE NOT LESS THAN 24 HOURS PRIOR TO THE TIME PROPOSALS ARE
TO BE SUBMITTED, WHICH DATE MAY NOT BE MORE THAN 30 DAYS AFTER THE
ORIGINALLY SCHEDULED DATE OF SALE.

(II) THE' NOTICE MAY BE GIVEN BY MUNIFACTS NEWS SERVICE OR
A SIMILAR SERVICE OR SUCH OTHER METHOD AS THE SECRETARY DEEMS
APPROPRIATE.

(C)     (1) BONDS SHALL BE EXECUTED BY THE MANUAL OR FACSIMILE
SIGNATURE OF THE SECRETARY.

(2) OTHER SIGNATURES ON THE BONDS MAY BE EITHER MANUAL OR
FACSIMILE.

(D)     IF AN INDIVIDUAL WHOSE MANUAL OR FACSIMILE SIGNATURE APPEARS
ON ANY BOND OR COUPON CEASES TO SERVE IN AN AUTHORIZED CAPACITY
BEFORE THE DELIVERY OF THE BOND, THE SIGNATURE NEVERTHELESS IS AS VALID
AND SUFFICIENT FOR ALL PURPOSES AS IF THE INDIVIDUAL HAD REMAINED IN
THAT CAPACITY UNTIL DELIVERY OF THE BOND.

3-505.

NOTWITHSTANDING ANY OTHER PROVISION OF LAW OR ANY RECITALS IN THE
INSTRUMENTS, BONDS ISSUED UNDER THIS SUBTITLE ARE INVESTMENT SECURITIES
UNDER THE LAWS OF THIS STATE.

'3-506.                                                                           

BONDS ISSUED UNDER THIS SUBTITLE AND THEIR ISSUANCE AND SALE ARE
EXEMPT FROM THE PROVISIONS OF §§ 8-206 AND 8-208 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE.         

3-507.                                               

BEFORE THE PREPARATION OF DEFINITIVE BONDS, THE DEPARTMENT MAY
ISSUE INTERIM CERTIFICATES OR TEMPORARY BONDS, WITH OR WITHOUT
COUPONS, EXCHANGEABLE FOR DEFINITIVE BONDS WHEN THE DEFINITIVE BONDS
HAVE BEEN EXECUTED AND ARE AVAILABLE FOR DELIVERY.

3-508.                                           

(A) THE DEPARTMENT MAY ISSUE BOND ANTICIPATION NOTES UNDER THIS
SUBTITLE, PAYABLE TO THE BEARER OR REGISTERED HOLDER OF THE NOTES OUT
OF THE FIRST PROCEEDS OF THE NEXT SALE OF BONDS.

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