Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1957-02-28
LeauI Advertisement


bonds, which shall include the
place or places and time or times
of payment thereof, the rate or
rates of interest payable thereon,
or space for the insertion of such
rate or rates of interest upon the
determination thereof, the titles
of the officials whose signatures
shall be affixed to or imprinted
thereon, the authority for the is
suance thereof, and the taxes ana
any special revenues from which
the principal of and interest on
said bonds will be payable.
(3) The form of notice solicit
ing bids for the purchase of said
bonds which shall set forth the
date, place and time for receiving
and opening bids and a brief de-
scrlptlon of the purpose or pur-
! poses for which said bonds are
TO be issued, a brief description
of the denominations, maturlties,
terms and conditions of said
bonds, a statement of the rate or
rates of interest to be born by
said bonds or the manner of de-
termining the same, a precise
statement of the manner in which
the best offer for said bonds will
be determined and a reference to
the resolution authorizing the
same. Said notice of sale may
also require prospective pur-
chaSers to submit bids on speci-
fled forms, may require such
prospective purchasers to accom-
pany their bids with good faith
deposits in specified amounts,
may make appropriate provisions
for approval of the legality of
such bonds, and may contain
financial statement of the Mayor
and Council. The foregoing provi-
Sions which may be included in
such notice of sale may also be
separately set forth in circular
or official statement.
(4) Specific provision for the
appropriation and disposal of the
proceeds of sale of said bonds
and a specific provision for the
payment of the principal thereof
and the interest thereon, which
such provision shall also specify
the source or sources of such
payment. Such ordinance may
contain such other provisions, not
inconsistent with this Section
1896, as the Mayor and Council
may deem appropriate or desir-
able, including authority to make
such notifications in the forms
adopted by such ordinance as will
not alter the substance of such
forms.
C. An ordinance so authorizing
any such bonds may also pro-
vide:
"a That the principal of an
interest on said bonds shall be
payable at one or more banks
or trust companies, which may be
either within or without the state.
% That the official signatures
and seals to be affixed to any
such bonds or the coupons if any
attached thereto, except ore such
official signature, which shall be
manually affixed, shall be i'm
printed on said bonds or coupons
in facsimile.
CD That any such bonds shall
be redeemable in whole or in part
at the option of the Mayor and
Council at~any time prior to the
respective maturities thereof at
such price or prices, either at or
above the par value of such bonds
as the Mayor and Council may
prescribe in the enabling ordi-
nance, provided that any such
bonds shall contain a statement
of such redemption provisions and
provided further that such en-
ahling ordinance shall make pro-
vision for due and proper prior
published notice of any such re-
demption.
(4) That any such issue of
bonds shall be in varying denomi.
nations and shall be in coupon
form, registerable as to principal
only, or in fully registered form,
or both, provided that If both
forms are authorized, the same
shall be interchangeable.
go That,in the event any Of
fetal whose signature shall APP
pear on any such bonds shall
cease to be such official prior
to the delivery of such bonds or,
in the event any such official
whose signature shall appear on
any such bonds shall have become
such after the date of issue there
of, said bonds shall nevertheless
be valid and binding obligations
in accordance with their terms.
90 That the taxes on other rev.
enues, or both, from which the
principal of or interest on any
such bonds are expressly made
payable, may be paid in whole
or in part to a bank or trust COM