WM. PRESTON LANE, JR., GOVERNOR. 739

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 in-
terest 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 suc-
ceeding fiscal year to make up any such deficiency. The
County may apply to the payment of principal and interest
of any bonds issued for one of the above defined public
facilities, 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 obtaining any
such public facility, 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 further authorized and empowered, at any time and
from time to time, to issue its bonds in the manner herein-
above described for the purpose of refunding, upon purchase
or redemption, any bonds issued for a public school or public
facility 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 for any
public school or public facility, 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 au-
thorizing 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 par
amount the par amount of such bonds so described in said reso-
lution. 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 redeemed
and refunded and the proceeds of the sale of any such re-
funding bonds shall be segregated and set apart by the Coun-
ty 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.