728                              Laws of Maryland                       [Ch. 515

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
required, in evidence of which any such bonds shall be issued, shall be
paid by the County to the Board of Education of Anne Arundel
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 au-
thorizing the additional bonds shall so recite, but if the funds de-
rived 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 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 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 hereunder any funds received by it
from the State of Maryland, 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 public
school construction, 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. 6. And be it further enacted, That the County is hereby au-
thorized 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 here-
under. The validity of any such refunding bonds shall in no way be
dependent upon or related to the validity or invalidity of the obli-
gations so refunded. The powers herein granted with respect to