A new molecular dynamics model in which the point charges on atomic si
tes are allowed to fluctuate in response to the environment has been d
eveloped in a previous work (J. Chem. Phys., 101:6151 (1994)). The mod
el and its application to liquid water are briefly reviewed. Various p
roperties of the model are calculated, with emphasis on the bonding ch
aracteristics. The water model is also used to investigate the aqueous
solvation of formaldehyde.