<select name="<?php echo $taxonomy_slug; ?>" id="<?php echo $taxonomy_slug; ?>" class="postform">
	<option value=""><?php echo $taxonomy_name; ?></option>

	<?php if ( $terms ) {
		foreach ( $terms as $term ) { ?>

			<option value="<?php echo $term->slug; ?>" <?php echo isset( $_GET[$taxonomy_slug] ) && $_GET[$taxonomy_slug] == $term->slug ? ' selected="selected"' : ''; ?>><?php echo $term->name; ?></option>

		<?php }
	} ?>

</select>