1796                             Laws of Maryland                        Ch 639

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 on 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 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 refunding
bonds shall exceed in amount the par amount of such bonds so des-
cribed 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 preparation
of definitive bonds or obligations, issue interim certificates or tempo-
rary 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. The County
may, by appropriate resolution, provide for the replacement 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 stipu-
late and require.