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Session Laws and Journals, 1969, December Special Session
Volume 694, Page 62   View pdf image (33K)
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62                                 Laws of Maryland                         Ch. 19

tained, said County shall have and is hereby granted full and com-
plete authority and discretion to fix and determine, in said resolu-
tion, the form and tenor of any such bonds, the rate or rates of
interest payable thereon, or the method of arriving at the same,
the date or dates upon which said bonds shall respectively mature
and be payable, the manner of selling said bonds at public sale,
and generally all matters incident or necessary to the issuance,
sale and delivery thereof. The bonds of each such issue shall be
dated, shall bear interest at such rate or rates [not exceeding six
per centum (6%) per annum], payable semi-annually, shall mature
at such time or times as may be determined by said resolution, and
said bonds may, by said resolution, 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 said County,
either in said resolution or in subsequent resolutions, but prior to
the issuance of said bonds. The principal of and the interest on said
bonds may be made payable in any lawful medium. Said resolution
shall determine the form of said bonds, including any interest
coupons to be attached thereto, and the manner of executing and
sealing the same, which may be by facsimile, and shall fix the
denomination or denominations of the bonds and the place or places
of payment of the principal and interest thereon, which may be at
any bank or trust company within or without the State of Maryland.
In case any officer whose signature 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 made for
the registration of said bonds having coupons attached, as to prin-
cipal 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. Such
bonds shall not be subject to the provisions of Sections 9, 10 and 11 of
Article 31 of the Code of Public General Laws of Maryland (1967
Replacement Volume), as amended from time to time, but said
County shall offer said bonds only by solicitation of competitive
bids therefor at public sale. Said bonds may be sold for such price or
prices as may be determined to be for the best interests of the
County, either at, above or below the par value of any such bonds
f, but no such sale shall be made at a price so low as to require
the payment of interest on the money received therefor at more
than six per centum (6%) per annum, computed with relation to
the absolute maturity of the bonds in accordance with standard
tables of bond values, excluding, however, from such computation
the amount of any redemption premium]. Upon delivery of any of
said bonds to the purchaser or purchasers thereof, payment therefor
shall be made to the Treasurer of Prince George's County or such
other official of the County designated to receive such payment in a
resolution passed by the Board of County Commissioners for
Prince George's 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 sale of such group or series of bonds and shall
adopt a suitable form of notice of sale, which shall briefly outline

 

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Session Laws and Journals, 1969, December Special Session
Volume 694, Page 62   View pdf image (33K)
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