J. MILLARD TAWES, GOVERNOR                         425

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 interest 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
principal, or as to both principal and interest. Each such notice of
sale shall also contain a brief summary of the current financial con-
dition 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 in-
formation 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 purchase of land, construction and equipping of Regional Li-
braries described in said resolution above required, in evidence of
which any such bond shall be issued shall be used exclusively and
solely for such land purchase, construction and equipping of Region-
al County Libraries. In the event the amounts so borrowed shall
prove inadequate for the financing of any such purchase of land,
construction and equipping of Regional County Libraries, at any time,
the County may issue additional bonds within the limitations for
the purpose of evidencing the borrowing of additional funds for any
such land purchase, construction and equipping of Regional County
Libraries, provided the resolution for authorizing the additional
bonds shall so recite, but if the funds derived from the sale of any
issue of any said bonds shall exceed the amount needed to finance the
land purchase, construction and equipping of said libraries described
in said resolution, the excess funds so borrowed and not expended
by the County shall be 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 redeem-
able, unless said County shall adopt a resolution allocating said ex-
cessive funds to some other part of the Regional County Library
system of said County.

Sec. 5. And be it further enacted, That the bonds hereby au-
thorized shall constitute, and they shall so recite, an irrevocable
pledge of the full faith and credit 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 asses-
sable property 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