36

LAWS OF MARYLAND

Ch. 24

shall appear on any such bond or on the coupons attached
thereto shall cease to be such officer before the
delivery thereof, such signature shall nevertheless be
valid and sufficient for all purposes the same as if he
had remained in office until such delivery. Said bonds
may, by any such resolution, be issued in coupon or in
registered form or both, and provision may be made for
the registration of said bonds having coupons attached,
as to principal alone and also as to both principal and
interest, and for the reconversion of said bonds into
coupon form if any of such bonds shall have been
registered as to both principal and interest. Said bonds
shall not be subject to the provisions of Sections 9, 10
and 11 of Article 31 of the Annotated Code of Maryland
(1971 Replacement Volume), as amended from time to time,
and said County may offer said bonds by solicitation of
competitive bids therefor at public sale or, at the
discretion of the County, at private sale. Said bonds
may be sold for such price or prices as may be determined
to be in the best interests of the County, either at or
above the par value of any such bonds. Upon delivery of
any of said bonds to the purchaser or purchasers thereof,
payment therefor shall be made to the Treasurer of
Charles County or such other official of the County
designated to receive such payment in a resolution
adopted by the County before such delivery.

In addition to making provision for the
above—described terms and conditions of any group or
series of bonds issued hereunder, the County, by an
appropriate resolution, shall likewise fix the terms and
conditions of the public or private sale of such group or
series of bonds and, in the event that the County shall
elect to sell such bonds at public sale, shall adopt a
suitable form of notice of sale, which shall briefly
outline said terms and conditions in accordance with the
provisions hereof. Said notice shall be published at
least twice in one or more daily or weekly newspapers
having a general circulation in Charles County, and may
also be published in one or more journals having a
circulation primarily among banks and investment bankers.
At least one publication of the notice of sale shall be
made not less than ten (10) days before the sale of said
bonds. Said notice shall offer said bonds to the highest
bidder or bidders therefor, and shall state how said
highest bidder or bidders will be determined. Said
notice shall specify the date, place and hour at which
bids for said bonds will be received and opened and the
bonds awarded. It shall also specify that each bid shall
be made in writing by a sealed proposal and shall be
accompanied by a good faith deposit in a fixed or
determinable amount as security for compliance by the
bidder with his bid. Said notice shall refer to this Act
as authority for the bonds and shall state the date of
issue of the bonds offered, the total aggregate par
amount thereof, the schedule of maturities thereof, the
interest payable thereon or the method of determining the
same, the purpose to which the proceeds thereof will be