MARVIN MANDEL, Governor

2185

the same, the purpose to which the proceeds thereof will
be devoted 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 registerable as to principal, or as to both principal
and interest. Each such notice of sale shall also
contain 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 but which shall state where interested parties may
obtain a complete copy thereof.

SECTION 4. AND BE IT FURTHER ENACTED, That the
proceeds from the sale of said bonds may be applied to
the payment of the first maturing interest of said bonds.

SECTION 5. AND BE IT FURTHER ENACTED, That the
bonds hereby authorized 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 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 as loan payments from Carroll County
General Hospital, Inc. and 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 public building construction, 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.

SECTION 6. AND BE IT FURTHER ENACTED, That the
County is hereby authorized and empowered, at any time