962

LAWS OF MARYLAND

Ch. 276

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 6 months in advance of redemption
date or dates of bonds to be redeemed and refunded, and the
proceeds of any such refunding bonds shall be segregated and set
apart by the County as a separate trust fund to be used solely
for the purpose of paying the purchase or redemption prices of
the bonds to be refunded.

SECTION 7. AND BE IT FURTHER ENACTED, That in the issuance
of any of the bonds authorized hereby, the County may, prior to
the preparation of definitive bonds or obligations, issue interim
certificates or temporary bonds, with or without coupons,
exchangeable for definitive bonds when such bonds or obligations
have been executed and are available for delivery, provided,
however, that any such interim certificates or temporary bonds
shall be issued in all respects subject to the restrictions and
requirements set forth herein. The County may, by appropriate
resolution, provide for the replacement of any bonds issued
hereunder which shall have become mutilated or be destroyed or
lost upon such conditions and after receiving such indemnity as
the County may think it proper and necessary to stipulate and
require.