32                               LAWS OF MARYLAND                       [CH. 17

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 Harford 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 limitations
hereof for the purpose of evidencing the borrowing of additional
funds for any such public school, provided the resolution for author-
izing 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 school or schools described in said reso-
lution, 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 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 suffi-
cient 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 re-
ceivable 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
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