J. MILLARD TAWES, GOVERNOR                            547

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 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 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 Frederick 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 in-
adequate 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 additional funds for any
such public school, provided the resolution for authorizing the addi-
tional 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 allocat-
ing 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 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 property
within the corporate limits of the County in rate and amount suffici-
ent to provide for the payment, when due, of the interest and princi-
pal 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 hereunder any funds received by it from the State
of Maryland, the United States of America, any agency or instru-
mentality thereof, or from any other source, if such funds are granted
for the purpose of assisting the County in public school construction,