J. MILLARD TAWES, Governor                     1559

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 succeed-
ing fiscal year to make up any such deficiency. The County may apply
to the payment of principal and interest of any bonds issued here-
under 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 assist-
ing the County in public school construction, 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 proportionately.

Sec. 6. And be it further enacted, That the County is hereby author-
ized and empowered, at any time and from time to time to issue its
bonds in the manner hereinabove described for the purpose of refund-
ing, 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 applica-
ble 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 here-
under, 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 described in said resolution. No such refund-
ing 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 redeemed and refunded and the proceeds of the
sale of any such refunding bonds shall be segregated and set apart
by the County as a separate trust fund to be used solely for the pur-
pose of paying the purchase or redemption prices of the bonds to be
refunded.

Sec. 7. And be it further enacted, That, in the issuance of any of
the bonds authorized hereby, the County may, prior to the prepara-
tion of definitive bonds or obligations, issue interim certificates or
temporary bonds, with or without coupons, exchangeable for defini-
tive 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 in-
demnity as the County may think it proper and necessary to stipulate
and require.

Sec. 8. And be it further enacted, That any and all obligations
issued pursuant to the authority of this Act, the interest payable