(a) The county council of any charter county, the county commissioners of
any noncharter county, and the commissioners of finance of the Mayor
and City Council of Baltimore may, in authorizing or in providing for
the sale of municipal bonds, from time to time provide by resolution,
which shall not be deemed to be a legislative act, that loans
authorized to be incurred and bonds authorized to be sold by separate
acts of enabling legislation be consolidated for sale and issued, sold
and delivered as a single issue of bonds, regardless whether enabling
legislation authorizing any such loan or the sale of any bonds
evidencing such loan was enacted before or after July 1, 1972.
(b) Any consolidated issue of municipal bonds made under the authority of
this section shall be designated "consolidated public improvement
bonds" of the issuing authority of the year in which the bonds are
to be dated. The resolution authorizing the issuance and sale of
consolidated public improvement bonds may determine all matters
relating to the advertisement, sale, issuance, delivery and payment of
the bonds, including all matters relating to the forms, dates and
denominations of the bonds, the principal maturities, the methods to be
used in determining interest payable on the bonds, and provisions, if
any, for registration, for redemption prior to stated maturity, and for
the use of facsimile signatures or seals. Unless the bonds are
authorized to be sold at private sale, a notice of sale or
advertisement of the public sale of consolidated public improvement
bonds shall be made at least once in a newspaper of general circulation
in the county, or Baltimore City, as the case may be, prior to sale and
may also be made in a newspaper circulating primarily among bankers and
investors, provided that at least one advertisement of public sale
shall be made not less than 10 days prior to sale. The net proceeds of
sale of consolidated public improvement bonds shall, after deduction of
the expenses of sale, be applied in the manner and for the purposes
designated in the separate underlying acts of enabling legislation
providing authority for the loan evidenced by such bonds.
(c) The provisions of this section shall be deemed to supersede any
inconsistent provision of law.
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