1292                            LAWS OF MARYLAND                       CH. 644

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 Prince George's
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 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 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 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 sufficient to provide for the payment, when due, of the inter-
est 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 con-
struction, 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
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 refund-
ing 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