WM. PRESTON LANE, JR., GOVERNOR. 83

such computation the amount of any redemption premium.
In addition, in lieu of publishing the entire notice of sale as
contemplated by Section 34 of said Article 31, the Board may,
if it shall so elect in said resolution, publish a brief summary
of said notice which shall state where interested parties may
obtain a complete copy thereof. Upon delivery of any of said
bonds to the purchaser or purchasers thereof, payment there-
for shall be made to the Treasurer of the Board, who shall
thereafter disburse the same only on vouchers approved by
the Board.

SEC. 4. And be it further enacted, That the money so
borrowed, for the public school or schools described in said
resolution above required, in evidence of which any such
bonds shall be issued, shall bemused by the Board exclusively
and solely for such public school or schools, and in the event
the amounts so borrowed shall prove inadequate for the
financing of any such public school, at any time, the Board
may issue additional bonds within the limitations hereof
for the purpose of evidencing the borrowing of additional
funds for any such public school, provided the resolution
authorizing such additional bonds shall so recite, but if
the funds derived from the sale of any issue of any such
bonds shall exceed the amount needed to finance the public
school or schools described in said resolution, the excess
funds so borrowed and not used by the Board shall be set
apart by the Board and applied in payment of the first
principal maturity of the bonds so issued or to the redemp-
tion of any part of said bonds, if the same shall have been
made redeemable, unless said Board shall adopt a resolution,
which shall be filed with and approved by the County,
allocating said excess funds to some other part of the school
program of the Board. In like manner, money so borrow-
ed for the purpose of funding notes issued pursuant
to the authority of Chapter 434 of the Acts of the General
Assembly of Maryland passed at its January Session in
1947 shall be used only for the purpose of paying the re-
newable portion of the maturing principal of any such notes,
if the same shall be renewable, or the unpaid principal of
any such notes which have been renewed or refunded and
the amounts which the Board shall borrow for such pur-
pose shall not, at any time, exceed the foregoing limitation.

SEC. 5. And be it further enacted, That the bonds hereby
authorized shall constitute, and they shall so recite, an irre-
vocable pledge of the full faith and credit and unlimited
taxing power of 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 property assessable