1538 LAWS OF MARYLAND. [CH. 643

bidder or bidders therefor, and shall state how said highest
bidder or bidders will be determined. Said notice of sale
shall specify the date, place and hour at which bids for said
bonds will be received and opened and the bonds awarded.
It shall also specify that each bid shall be made in writing
by a sealed proposal and shall be accompanied by a good faith
deposit in a fixed or determinable amount as security for com-
pliance by the bidder with his bid. Said notice shall refer
to this Act as authority for the bonds and shall state the
date of issue of the bonds offered, the total aggregate par
amount thereof, the schedule of maturities thereof, the inter-
est payable thereon, or the method of determining the same,
• the purpose to which the proceeds thereof will be devoted, and
the general form thereof, including a statement whether said
bonds will be redeemable, will be in coupon or registered
form, and whether the same will be registerable as to prin-
cipal, or as to both principal and interest. Each such notice
of sale shall also contain a brief summary of the current
financial condition of the County or shall indicate where
such a statement may be obtained and, finally, shall reserve
unto the County the right to reject any or all bids received.
In lieu of publishing said entire notice of sale, the County
may, if it shall so elect in said resolution, publish a brief
summary of said notice which need not contain all the infor-
mation required for said notice of sale but which shall state
where interested parties may obtain a complete copy thereof.

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 be paid by the County to the Board
of Education of Baltimore County and, by said Board, shall be
used exclusively and solely for such public school or schools.
In the event the amounts so borrowed shall prove inadequate
for the financing of any such public schools, at any time, the
County may issue additional bonds within the limitations
hereof for the purpose of evidencing the borrowing of addi-
tional funds for any such public school, provided the resolu-
tion for authorizing the additional bonds shall so recite, but
if the funds derived from the sale of any issue of said bonds
shall exceed the amount needed to finance the public school
or schools described in said resolution, the excess funds so
borrowed and not expended by the Board of Education shall
be returned to the County by said Board and applied by said
County in payment of the next principal maturity of the
bonds so issued or to the redemption of any part of said bonds,
if the same shall have been made redeemable, unless said
County shall adopt a resolution allocating said excess funds