1806                             Laws of Maryland                        Ch 641

bonds will be received and opened and the bids awarded. It shall
also specify that each bid shall be made in writing by a sealed pro-
posal and shall be accompanied by a good faith deposit in a fixed
or determinate amount as security for compliance by the bidder
with his bid. Said notice shall refer to this Act as authority for
the bonds and shall state the date of issue of the bonds offered,
the total aggregate par amount thereof, the schedule of maturities
thereof, the interest payable thereon, or the method of determining
the same, the purpose to which the proceeds thereof will be de-
voted, and the general form thereof, including a statement whether
said bonds will be redeemable, will be in coupon or registered form,
and whether the same will be registrable as to principal, or as to
both principal and interest. Each such notice of sale shall also con-
tain a brief summary of the current financial condition of the County
or shall indicate where such a statement may be obtained and,
finally, shall reserve unto the County the right to reject any or all
bids received. In lieu of publishing said entire notice of sale, the
County may, if it shall so elect in said resolution, publish a brief
summary of said notice which need not contain all the information
required for said notice of sale but which shall state where interest-
ed parties may obtain a complete copy thereof.

Sec. 4. And be it further enacted, That, the money so borrowed
for the community college or colleges described in said resolution
above required, in evidence of which any such bonds shall be issued,
shall be paid by the County to the Board of Trustees of Prince
George's Community College and, by said Board, shall be used ex-
clusively and solely for such community college or colleges. In the
event the amounts so borrowed shall prove inadequate for the financ-
ing of any such community colleges, at any time, the County may
issue additional bonds within the limitations hereof for the pur-
pose of evidencing the borrowing of additional funds for any such
community college, provided the resolution for authorizing the addi-
tional 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 community college or colleges described in said resolution, the
excess funds so borrowed and not expended by the Board of Trustees
shall be returned to the County by said Board and 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 community college
projects of Prince George's County.

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 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 pur-
poses, additional taxes shall be levied in the succeeding fiscal year