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PARRIS N. GLENDENING, Governor
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Ch. 470
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1. THE FORM OF NOTICE OF SALE, WHICH SHALL OUTLINE
THE TERMS AND CONDITIONS OF THE SALE; AND
2. THE FORM OF ADVERTISEMENT OF A SUMMARY NOTICE
OF SALE, WHICH SHALL BE PUBLISHED AT LEAST ONCE IN AN APPROPRIATE
NEWSPAPER OF GENERAL CIRCULATION AS DETERMINED BY THE SECRETARY;
(IX) WHETHER ALL OR ANY PART OF THE BONDS ARE REDEEMABLE
BEFORE MATURITY AND ANY TERMS, CONDITIONS, AND PRICES OF REDEMPTION;
AND
(X) ANY OTHER MATTER RELATING TO THE FORM, TERMS,
CONDITIONS, ISSUANCE, SALE, AND DELIVERY OF THE BONDS.
(C) (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 TM3 NEWS SERVICE OR A
SIMILAR SERVICE OR ANY OTHER METHOD THAT THE SECRETARY DEEMS
APPROPRIATE.
(D) (1) SPECIAL TRANSPORTATION PROJECT REVENUE BONDS SHALL BE
EXECUTED ON BEHALF OF THE DEPARTMENT BY THE MANUAL OR FACSIMILE
SIGNATURE OF THE SECRETARY
(2) OTHER SIGNATURES ON THE BONDS MAY BE EITHER MANUAL OR
FACSIMILE.
(3) 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.
(E) FORTY-FIVE DAYS BEFORE EACH ISSUANCE OF BONDS UNDER THIS
SECTION, THE DEPARTMENT MUST REPORT THE PROPOSED ISSUANCE TO THE
LEGISLATIVE POLICY COMMITTEE FOR REVIEW AND COMMENT.
(F) EACH ISSUE OF SPECIAL TRANSPORTATION PROJECT REVENUE BONDS
SHALL BE APPROVED BEFORE SALE BY RESOLUTION OF THE BOARD OF PUBLIC
WORKS.
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- 3761 -
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