HARRY HUGHES, Governor                                           741

said bonds will be received and opened and the bonds awarded. It
shall also specify that each bid shall be made in writing by a
sealed proposal and shall be accompanied by a good faith deposit
in a fixed or determinable 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 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 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 when due. 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 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