1602                           LAWS OF MARYLAND                      [CH. 733

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
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 the construction
and acquisition of public facilities, as defined herein, 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 proportion-
ately.

Sec. 7. And be it further enacted, That the County is hereby
further 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 hereunder. 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 in the open market any of its
outstanding bonds issued hereunder, prior to the maturity thereof,
or for the purpose of providing it with funds for the redemption
prior to maturity of any outstanding bonds issued hereunder which
are, by their terms, redeemable. The resolution authorizing the issue
of any such refunding bonds shall describe the issue or issues of bonds
of the County so to be refunded, and no issue of such refunding bonds
shall exceed in amount the par amount of such bonds so described in
said resolution. No such refunding bonds shall actually be delivered
to the purchaser or purchasers thereof more than six (6) months
in advance of redemption date or dates of bonds to be redeemed
and refunded and the proceeds of the sale of any such refunding
bonds shall be segregated and set apart by the County as a separate
trust fund to be used solely for the purpose of paying the purchase
or redemption prices of the bonds to be refunded.

Sec. 8. And be it further enacted, That, in the issuance of any
of the bonds authorized hereby, the County may, prior to the
preparation of definitive bonds or obligations, issue interim certificates
or temporary bonds, with or without coupons, exchangeable for
definitive bonds when such bonds or obligations have been executed
and are available for delivery, provided, however, that any such
interim certificates or temporary bonds shall be issued in all respects
subject to the restrictions and requirements set forth herein. The
County may, by appropriate resolution, provide for the replacement