1042                             Laws of Maryland                       [Ch. 689

Sec 5. And be it further enacted, That such bonds shall be issued
and sold in accordance with the provisions of Sections 10 and 11 of
Article 31 of the Annotated Code of Maryland (1957 Edition), except
that said bonds may be sold for such price or prices as may be
determined to be for the best interests of the County, either at,
above, or below the par value of any such bonds. No such sale shall,
however, be made at a price so low as to require the payment of
interest on the money received therefor at more than five per centum
(5%) per annum, computed with relation to the absolute maturity
of the bonds in accordance with standard tables of bond values,
excluding, however, from such computation the amount of any re-
demption premium. In addition, in lieu of publishing the entire
notice of sale of said bonds, the County may distribute the same,
by mail or otherwise, together with an appropriate circular, and
may publish a brief summary of said notice of sale which shall state
where interested parties may obtain a complete copy thereof. The
County may reserve to itself, in any such notice of sale, the right to
reject any or all bids received for said bonds. If any such bonds are
sold, delivered and paid for as provided in the resolution authorizing
the same, the proceeds of such sale shall be paid to the Treasurer
of the County who shall disburse the same only on vouchers ap-
proved by the Board, or a designated official thereof, for the pur-
pose of paying the cost of the Board's program for public schools,
as defined in Section 1 of this Act, or a portion thereof, set forth
in the resolution authorizing said bonds as hereinabove provided.

Sec 6. And be it further enacted, That when any of the bonds
hereby authorized are issued they shall constitute, and they shall so
recite, an irrevocable pledge of the faith and credit and unlimited
taxing power of the County to the payment of the maturing prin-
cipal of and interest on such bonds as and when the same respectively
mature. In each and every fiscal year in which any of said bonds
are outstanding, the County shall levy or cause to be levied ad
valorem taxes upon all property within the territorial limits of the
County subject to unlimited taxation, in rate and amount sufficient
to provide for the payment when due, of the principal of and interest
on such of said bonds as shall mature in 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, the County
shall provide the difference from its general funds and additional
taxes shall be levied in the succeeding year to make up any such
deficiency. The County may apply to the payment of the principal
of and interest on any such bonds any funds paid or payable either
to the County or to the Board by the State of Maryland, the United
States of America, any agency or instrumentality of either, or by
any other source, if such funds are granted for the purpose of
assisting the County or the Board in providing public schools, as
defined in Section 1 of this Act, and to the extent of any such funds
received or receivable in any such year, the taxes hereby required
to be levied may be reduced proportionately.

Sec. 7. And be it further enacted. That if any bonds or coupons
issued by the County pursuant to the authority of this Act shall be
paid or redeemed, the same shall be appropriately destroyed by
cremation or otherwise, and no additional bonds shall be issued by
the County in lieu thereof. However, if any outstanding bonds