Montgomery County                            2843

proceeds of such bonds, and the levy of unlimited ad valorem taxes for
the payment of the principal and interest of the bonds authorized by
this Act.

Section 3. Any bonds issued and sold by the County pursuant to
the authority of this Act shall constitute and they shall so recite an
irrevocable pledge of the full faith and credit of the County. All of
such bonds, and the interest thereon shall be payable primarily from
the taxes and other funds collected from the Silver Spring Parking
Lot District pursuant to Title II, Chapter 44, of the Montgomery
County Code 1965, as now or hereafter amended, but if such taxes
and other funds are insufficient for such purpose, such bonds shall be
payable from unlimited ad valorem taxes levied upon all assessable
property within the County. Montgomery County, Maryland, hereby
covenants and agrees that in each and every fiscal year in which any
of said bonds are outstanding, it will levy or cause to be levied the
special taxes authorized by said Chapter 44 in an amount or amounts
sufficient to provide for the payment when due of the interest and
principal of such bonds becoming due in such fiscal year. If the
amount of estimated receipts from such special taxes, together with
other revenues for the payment of such principal and interest shall be
insufficient to pay such principal and interest, Montgomery County,
Maryland, hereby further covenants that it will levy or cause to be
levied ad valorem taxes upon all the legally assessable property within
the corporate limits of the County in rate and amount sufficient to
provide for such payments; and in the event that the proceeds from
such special taxes and ad valorem taxes upon all the assessable
property within the County levied in any fiscal year, together with
other revenues available for the payment of the interest and principal
of such bonds, shall prove inadequate for the above purposes, it will
levy additional taxes in the succeeding fiscal year to make up any
such deficiency, all in accordance with Section 2-115 of the Mont-
gomery County Code, 1965, as amended.

Section 4. The powers granted by this Act are additional and
cumulative and the bonds authorized by this Act may be issued not-
withstanding that other bond acts or laws may provide for the issuance
of other bonds or the borrowing of money for the same or similar
purposes on the same or other terms and conditions.

Sec. 4. Effective date.

This Act shall take effect on the 76th day following its enactment.
Effective: December 21, 1970