Marvin Mandel, Governor                        1629

sale. Said bonds may be sold for such price or prices as may be
determined to be for the best interests of the County, either at,
above or below the par value of any such bonds. Upon delivery of
any of said bonds to the purchaser or purchasers thereof, payment
therefor shall be made to the Treasurer of St. Mary's County or
such other official of the County designated to receive such pay-
ment in a resolution passed by the Board of County Commissioners
of St. Mary's County before such delivery.

Sec. 4. And be it further enacted, That the money so bor-
rowed for the flood prevention and watershed projects described
in said resolution above required, in evidence of which any such
bonds shall be issued, shall be paid to the Treasurer of St. Mary's
County (or to such other official of the County designated to receive
such payment in a resolution passed by the Board of County Com-
missioners of St. Mary's County before such delivery) and shall
be used exclusively and solely for such flood prevention and water-
shed projects. In the event the amounts so borrowed shall prove
inadequate for the financing of any such flood prevention and water-
shed projects, 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 flood prevention and
watershed projects, 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 flood prevention and watershed projects described in
said resolution, the excess funds so borrowed shall be 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 other flood pre-
vention and watershed projects of St. Mary's County.

Anything in this Section 4 to the contrary notwithstanding, the
County may provide, in said resolution above required, that the
money so borrowed for the flood prevention and watershed projects
described in said resolution may be paid by the County to any
board, agency, department or other public body which is now or
may hereafter be empowered to construct, maintain or operate
such flood prevention and watershed projects in St. Mary's County;
such funds to be disbursed upon such terms and conditions as shall
be prescribed by the Board of County Commissioners of St. Mary's
County, to be used by any such board, agency, department or other
public body solely and exclusively for such flood prevention and
watershed projects.

Sec. 5. And be it further enacted, That the bonds hereby au-
thorized 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 assess-
able 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