1060                             Laws of Maryland                       [Ch. 702

and shall be accompanied by a good faith deposit in a fixed or de-
terminable 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
aggregate par amount thereof, the interest payable thereon, or the
method of determining the same, generally 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 principal, 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
Board of County Commissioners the right to reject any or all bids
received. In lieu of publishing said entire notice of sale, the Board
of County Commissioners may, if it shall so elect in said resolution,
publish a brief summary of said notice which summary need not
contain all the information required by law to be contained in said
notice but which shall state where interested parties may obtain a
complete copy thereof.

Sec. 4. And be it further enacted, That the bonds hereby author-
ized 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 prop-
erty within the corporate limits of the County in rate and amount
sufficient to provide for the payment, when due, of the interest
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 succeeding 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 projects described in
Section 1 hereof, any funds received by it from the State of Mary-
land, 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 project
described in Section 1 hereof, 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. 5. And be it further enacted, That the County is hereby fur-
ther authorized and empowered, at any time and from time to time,
to issue its bonds in the manner hereinabove described for the
purpose of refunding, upon purchase or redemption, any bonds issued
for the projects described in Section 1 hereof. 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 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