PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 173

the State in good and sufficient form, to aggregate the amount
of six hundred thousand dollars as evidence of such loan; such
bonds or certificates of indebtedness shall bear date September
1st, 1912, and shall not be issued in less sums than one hun-
dred dollars or some multiple thereof; each of said bonds or
certificates of indebtedness shall be signed by the Treasurer <xi'
the State and countersigned by the Comptroller of the Treasury,
and shall bear interest at the rate of four per cent, per annum,
payable semi-annually on the first day of March and the first
day of September in each year; such portion of said bonds or
certificates shall be registered and such portion shall have inter-
est coupons attached thereto, as the Governor, Comptroller of
the Treasury and Treasurer, or a majority of them, shall deter-
mine.

In order to provide for the selling of the bonds or certificates
of indebtedness aforesaid, to be issued" under the provisions of
this act, the Governor, Comptroller of the Treasury and Treas-
urer of this State, or a majority of them, are hereby directed to
advertise twice a week for four successive weeks between the
first day of August and the fiftecnth day of September, 1912,
in two newspapers published in the City of Baltimore, that the
Treasurer will be ready, at such date prior to September 20th,
1912, and at such place or places as may be named in said
advertisements, to receive bids for bonds or certificates of
indebtedness issued under the provisions of this act, under such
regulations as may be made in the discretion of the Governor,
Comptroller of the Treasury and Treasurer, or a majority of
them; and the accrued interest between the date of the bonds or
certificates and the time of sale and delivery of and paymem
for said bonds or certificates shall be adjusted with the pur-
chaser thereof under such regulations as may be made in the
discretion of the Governor, Comptroller of the Treasury and
Treasurer, or a majority of them; and upon the day mentioned
in said advertisement as the day for opening the bids for the
proposals thereby called for, they shall receive such sealed pro-
posals for the purchase of the bonds or certificates of indebted-
ness designated in said advertisement; and on the opening of
such sealed proposals, as many of said bonds or certificates of
indebtedness as have been so bid for shall be awarded by the
Governor, Comptroller of the Treasury and the Treasurer, or a
majority of them, to the highest responsible bidder or bidder,
therefor for cash, if the prices bid are adequate, in the judge-
ment of the Governor, Comptroller and Treasurer or a majority
of them; and when two or more bidders have made the same-
bid, and such bid is the highest and the bonds or certificates so