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Ch. 187
2004 LAWS OF MARYLAND
(5) BEAR THE MANUAL OR FACSIMILE SIGNATURE OF THE COUNTY
SUPERINTENDENT OR ONE OF THE OTHER MEMBERS OF THE COUNTY BOARD, IN
CASE ANY OFFICER WHOSE MANUAL OR FACSIMILE SIGNATURE APPEARS ON ANY
BONDS OR COUPONS CEASES TO BE AN OFFICER BEFORE THE DELIVERY OF THE
BONDS, THE SIGNATURE OR FACSIMILE OF THE FORMER OFFICER IS VALID AND
SUFFICIENT FOR ALL PURPOSES AS IF THE OFFICER HAD REMAINED IN OFFICE
UNTIL DELIVERY;
(6) BEAR THE OFFICIAL SEAL OF THE COUNTY BOARD OR A FACSIMILE
OF THE SEAL AFFIXED TO THE BONDS AND ATTESTED BY THE MANUAL OR
FACSIMILE SIGNATURE OF THE SECRETARY OF THE COUNTY BOARD;
(7) BE PAYABLE IN LAWFUL MONEY OF THE UNITED STATES OF
AMERICA AT A DESIGNATED PLACE;
(8) BE SUBJECT TO THE TERMS OF PURCHASE, PAYMENT, REDEMPTION,
REFUNDING, OR REFINANCING THAT THE RESOLUTION OF THE COUNTY BOARD
PROVIDES; AND
(9) BE SOLD IN THE MANNER AND UPON THE TERMS DETERMINED BY
THE COUNTY BOARD, INCLUDING PRIVATE OR NEGOTIATED SALE.
(H) ALL BONDS ISSUED UNDER THE PROVISIONS OF THIS SUBTITLE SHALL
HAVE ALL THE QUALITIES AND INCIDENTS OF NEGOTIABLE INSTRUMENTS UNDER
THE LAWS OF THE STATE RELATING TO NEGOTIABLE INSTRUMENTS.
(I) PRIOR TO THE PREPARATION OF DEFINITIVE BONDS, THE COUNTY BOARD,
UNDER LIKE RESTRICTIONS, MAY ISSUE INTERIM RECEIPTS OR TEMPORARY BONDS,
WITH OR WITHOUT COUPONS, EXCHANGEABLE FOR DEFINITIVE BONDS WHEN THE
BONDS ARE EXECUTED AND AVAILABLE FOR DELIVERY.
(J) (1) BONDS MAY BE ISSUED UNDER THE PROVISIONS OF THIS SUBTITLE;
(I) WITHOUT OBTAINING THE CONSENT OF ANY DEPARTMENT,
DIVISION, COMMISSION, BOARD, BUREAU, OR AGENCY OF THE STATE; OR
(II) WITHOUT ANY OTHER PROCEEDINGS OR THE OCCURRENCE OF
ANY OTHER CONDITIONS OTHER THAN THOSE PROCEEDINGS OR CONDITIONS THAT
ARE REQUIRED SPECIFICALLY BY PROVISIONS OF THIS SUBTITLE.
(2) THE PROVISIONS OF TITLE 8, SUBTITLE 2 OF THE STATE FINANCE
AND PROCUREMENT ARTICLE DO NOT APPLY TO BONDS ISSUED UNDER THE
PROVISIONS OF THIS SUBTITLE.
(K) THE COUNTY BOARD SHALL ESTABLISH ONE OR MORE TRUST FUNDS FOR
THE DEPOSIT OF THE PROCEEDS OF THE BONDS OF ANY ISSUE.
(L) THE COUNTY BOARD MAY;
(1) MAINTAIN SEPARATE ACCOUNTS FOR PURPOSES OF IDENTIFYING
THE SOURCES OF PAYMENT OF THE BONDS FOR THE ACQUISITION, DEVELOPMENT,
OR IMPROVEMENT OF PUBLIC SCHOOL FACILITIES; AND
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