1480                            LAWS OF MARYLAND                      [CH. 888

Said notice shall offer said bonds to the highest bidder or bidders
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
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
schedule of maturities thereof, the interest payable thereon, or the
method of determining the same, the purpose to which the pro-
ceeds 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 registrable 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. 5. And be it further enacted, That the money so borrowed
for the public facilities described in said resolution above required,
in evidence of which any such bonds shall be issued, shall be paid
to the Treasurer of Prince George's County and shall be used
exclusively and solely for such public facilities. In the event the
amounts so borrowed shall prove inadequate for the financing of
any such public facilities, at any time, the County may issue addi-
tional bonds within the limitations hereof for the purpose of
evidencing the borrowing of additional funds for any such public
facilities, provided the resolution for authorizing the additional
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 facilities described in said resolution, the excess funds so
borrowed 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 redeemable.

Sec. 6. 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 defi-
ciency. The County may apply to the payment of principal and