Theodore R. McKeldin, Governor                  1039

County, and may also be published in one or more journals having
a circulation primarily among banks and investment bankers. The
sale of said bonds shall be held not sooner than ten (10) days follow-
ing the first publication of said notice. Said notice shall offer said
bonds to the highest 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 deter-
minable amount as security for compliance 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 aggre-
gate par amount thereof, the schedule of maturities thereof, the in-
terest 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 re-
deemable, will be in coupon or registered form, and whether the same
will be registerable as to principal, or as to both principal and in-
terest. 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 publish-
ing 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 information 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 re-
quired, in evidence of which any such bonds shall be issued, shall be
paid by the County to the Board of Education of Prince George's
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 limita-
tions hereof for the purpose of evidencing the borrowing of additional
funds for any such public school, provided the resolution for authoriz-
ing 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 Educa-
tion 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 to some other part of the
school construction program of said Board of Education.

Sec. 5. And be it further enacted, That the bonds hereby authorized
shall constitute, and they shall so recite, an irrevocable 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 the assessable property