1494                           LAWS OF MARYLAND                     [CH. 654

agency or instrumentality thereof, or from any other source, if such
funds are granted for the purpose of assisting the County in the
construction 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 proportionately.

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 re-
funding 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 prepara-
tion of definitive bonds or obligations, issue interim certificates
or temporary bonds, with or without coupons, exchangeable for de-
finitive 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 re-
placement of any bonds issued hereunder which shall have become
mutilated or be destroyed or lost upon such conditions and after
receiving such indemnity as the County may think it proper and
necessary to stipulate and require.

Sec. 9. And be it further enacted, That, any and all obligations
issued pursuant to the authority of this Act, their transfer, the