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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1994   View pdf image (33K)
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1994 SURVEYOR AND STATE SURVEY. [ART. 91

said advertisement as the day for opening the bids for the proposals
thereby called for they shall receive such sealed proposals for the pur-
chase of as many of such certificates of indebtedness as may be desig-
nated in said advertisement; and on the opening of such sealed proposals,
as many of said certificates of indebtedness as have been so bid for shall
be awarded by the governor, comptroller of the treasury and treasurer,
or a majority of them, to the highest responsible bidder or bidders there-
for for cash, if the prices bid are inadequate, in the judgment 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 certificates so bid for by the highest responsible bidders are in
excess of the whole amount of the certificates so offered for sale, such
certificates of indebtedness shall be awarded such highest responsible
bidders bidding the same price in a ratable proportion; and if any of
said certificates so offered for sale are not bid for, or if any insufficient
price be bid for them, they may be subsequently disposed of under the
direction of the governor, comptroller of the treasury and treasurer, or
a majority of them, at private sale upon the best terms they can obtain
for the same; provided, they shall not be sold at private sale for less
than par and accrued interest.

1908. ch. 141. sec. 32 K.

43. In order that there shall be no delay in carrying into effect the
provisions of this act, the sum of two hundred and fifty thousand dollars,
or so much thereof as may be necessary, is hereby appropriated from the
treasury proper for the year 1908 for the carrying out of the provision^
of this act.

1908, ch. 141, sec. 321.

44. The actual cash proceeds of the sales of certificates of indebted-
ness to be issued under this act shall be paid to the treasurer of this
State upon the warrant of the comptroller, and such proceeds shall be
used exclusively, as far as the same are required, for the purposes of
this act, to wit: the comptroller shall, immediately upon the sale and
payment of said bonds, first return to and credit the treasury proper
for whatever appropriation, advances or loans that may have been made
from the same, as provided in section 43, the balance of proceeds of said
bond issue, to be used in the manner and for the purposes herein set
forth; that the commission shall appropriate and use in the several
counties of the State of Maryland so much of the funds arising from the
bond issue herein provided for as is available for actual construction
work in proportion to the now existing road mileage of said counties,
respectively, the term "road mileage" herein used, only to include the
public or county roads, or turnpikes now in actual use and abandoned
turnpikes now used by the public. This provision is not to be construed
as requiring the commission to spend a certain proportion of said fund
in each county of the State each and every year, but is intended to
eventually provide a fair distribution of the funds according to road

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1994   View pdf image (33K)
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