J. MILLARD TAWES, GOVERNOR                          1115

the County to the payment of the maturing principal and interest
of such bonds as and when the same respectively mature. In each
and every fiscal year that any of said bonds are outstanding, the
County shall levy or cause to be levied ad valorem taxes upon all
the assessable property within the corporate limits of the County
in rate and amount sufficient to provide for the payment, when due,
of the interest and principal of all said bonds maturing in each SUCH
fiscal year and in the event the proceeds from the taxes so levied in
any such fiscal year shall prove inadequate for the above purposes,
additional taxes shall be levied in the succeeding fiscal year to make
up any such deficiency. The County may apply to the payment of
principal and interest of any bonds issued hereunder any funds
received by it from the State of Maryland, the United States of
America, any agency or instrumentality thereof, or from any other
source, if such funds are granted for the purpose of assisting the
County in acquiring land for roads, and or park development, and
to the extent of any such funds received or receivable in any fiscal
year the taxes hereby required to be levied may be reduced pro-
portionately.

464D (7) And be it further enacted, That the County is hereby fur-
ther authorized and empowered, at any time and from time to time
to issue its bonds in the manner hereinabove described for the pur-
pose of refunding, upon purchase or redemption, any bonds issued
hereunder. The validity of any such refunding bonds shall in no way
be dependent upon or related to the validity or invalidity of the
obligations so refunded. The powers herein granted with respect to
the issuance of bonds, and also the limitations herein on such powers
shall be applicable to the issuance of refunding bonds. Said refunding
bonds may be issued by the County for the purpose of providing it
with funds to purchase in the open market any of its outstanding
bonds issued hereunder, prior to the maturity thereof, or for the
purpose of providing it with funds for the redemption prior to
maturity of any outstanding bonds issued hereunder which are,
by their terms, redeemable. The resolution authorizing the issue
of any such refunding bonds shall describe the issue or issues of
bonds of the County so to be refunded, and no issue of such refunding
bonds shall exceed in amount the par amount of such bonds so de-
scribed in said resolution. No such refunding bonds shall actually be
delivered to the purchaser or purchasers thereof more than six (6)
months in advance of redemption date or dates of bonds to be re-
deemed and refunded and the proceeds of the sale of any such re-
funding bonds shall be segregated and set apart by the County as a
separate trust fund to be used solely for the purpose of paying the
purchase or redemption prices of the bonds to be refunded.

464D (8) And be it further enacted, That, in the issuance of any
of the bonds authorized hereby, the County may, prior to the
preparation of definitive bonds or obligations, issue interim certifi-
cates or temporary bonds, with or without coupons, exchangeable
for definitive bonds when such bonds or obligations have been executed
and are available for delivery, provided, however, that any such
interim certificates or temporary bonds shall be issued in all respects
subject to the restrictions and requirements set forth herein. The
County may, by appropriate resolution, provide for the replacement
of any bonds issued hereunder which shall have become mutilated
or be destroyed or lost upon such conditions and after receiving such