MONTGOMERY COUNTY                               2093

full faith and credit, for parking lots for the Silver Spring Park-
ing Lot District, prescribing the terms and conditions upon which
said bonds shall be issued and delivered and other incidental details
with respect thereto, and providing for the application of the proceeds
of such bonds and for the levy of taxes for the payment of the prin-
cipal and interest thereof.

BE IT ENACTED BY THE COUNTY COUNCIL FOR MONTGOMERY
COUNTY, MARYLAND, that—

Section 1. Montgomery County, Maryland, is hereby authorized, at
any time and from time to time, upon its full faith and credit, to borrow
money and to incur indebtedness in a total amount not to exceed $1,750,000,
for the purpose of financing the construction and improvement of off-street
parking lots and facilities for the parking of automobiles and other vehi-
cles for the Silver Spring Parking Lot District, as described in Title II,
Chapter 44, Section 1, paragraph (a), entitled "Silver Spring Parking
Lot District" of the Montgomery County Code 1965, as now or hereafter
amended, or acquiring such parking lots and facilities or sites therefor,
and in evidence of such borrowing and indebtedness to issue its bonds at
one time or from time to time, in various series, in an aggregate principal
amount not to exceed $1,750,000.

Section 2. Before the issuance of any series of said bonds, the County
Council shall by resolution determine the amount or amounts estimated to
be needed to pay the cost or expense of constructing, improving and acquir-
ing off-street parking lots and facilities for such District and sites therefor,
including the cost of printing and delivering and other expenses of issu-
ance of said bonds and any other incidental expenses. After or simultane-
ously with the making of such determination and estimate, the issuance
of the bonds of such series may be authorized by resolution or resolutions
of the County Council in a principal amount not exceeding the amount or
amounts so estimated. It shall not be necessary that such resolution or
resolutions shall designate the site or sites of such off-street parking lots
or facilities, it being the intent hereof that bonds may be issued hereunder
prior to the selection of any such site or sites. The proceeds of the bonds
of such series, to an amount equaling the principal amount of said bonds,
shall be set aside from other County funds and used and appropriated only
for payment of the cost and expenses of off-street parking lots and facili-
ties including the cost of printing and delivering and other expenses of
issuance of said bonds and any other incidental expenses, and the re-
imbursement of the general tax receipts of the County for any moneys
previously expended therefrom for such facilities, and any balance of such
proceeds, together with any part of the sum so set aside which is not
required for payment of the cost and expense of off-street parking lots
and facilities shall be promptly applied to payment of such bonds as they
become due.

Section