1750

LAWS OF MARYLAND

Ch. 226

contain all the information required for said notice but
which shall state where interested parties may obtain a
complete copy therefor.

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 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 said volunteer
fire departments 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 or in the purchase of emergency
related equipment, 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 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 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 described in said
resolution. No such refunding bonds shall actually be
delivered to the purchaser or purchasers thereof more than