1156                            LAWS OF MARYLAND                     [CH. 459

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 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 hospital 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 fur-
ther authorized and empowered, at any time and from time to time,
to issue its bonds in the manner hereinabove described for the pur-
pose 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 pur-
pose of paying the purchase or redemption prices of the bonds to
be refunded.

Sec. 7. 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 cer-
tificates 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.