1638 LAWS OF MARYLAND. [CH. 951

borrowing of additional funds for any such purposes, but if the
funds derived from the sale of any issue of any such obligations
shall exceed the amount needed to finance the projects or pur-
poses described in said resolution, the excess funds so borrowed
shall be set apart by the County and applied in payment of
the first principal maturity of the bonds so issued, or they
may be applied by the County to the financing of any of the
objects and purposes set forth in this Act, thereafter under-
taken by said County Commissioners. Said resolution shall
provide that the said obligations shall be issued upon the full
faith and credit of the County, payable primarily from the
proceeds of the special taxes authorized by this Act, and
that if said special taxes are insufficient for such purposes,
they shall be payable from unlimited ad valorem taxes levied
upon all assessable property within the corporate limits of said
County. In each and every fiscal year that any obligations
issued pursuant to the authority of this Act are outstanding,
the County Commissioners shall calculate the amount required
to meet interest and principal payments in such year upon any
of the obligations outstanding hereunder, and shall estimate as
nearly as possible the amount to be collected from special taxes
authorized under Section 1039B hereof,, and if the amount of
estimated receipts from such special taxes shall be insufficient
to pay said principal and interest, 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 such payments. In the event the pro-
ceeds from the taxes 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 defi-
ciency. Any and all obligations issued pursuant to the author-
ity of this Act and the interest thereon and the income derived
therefrom, in the hands of the holders thereof from time to
time, shall be and are hereby declared to be exempt from State,
County and Municipal taxation of every kind and nature what-
soever in the State of Maryland.

1039J. This Act, and the powers hereby conferred, shall be
regarded as supplemental and additional to any powers now
existing, and being necessary for the welfare of the inhabitants
of Montgomery County, shall be liberally construed to effect
the purposes hereof. All Acts and parts of Acts, however, in-
consistent with the provisions of this Act are hereby repealed
to the extent of such inconsistency.

1039K. The provisions of this Act are severable, and if any
of its provisions shall be held unconstitutional by any court of
competent jurisdiction, the decision of such court shall not
affect or impair any of the remaining provisions. It is hereby