ART. 91] PUBLIC ROADS. 1999

ble semi-anuually on the 1st day of January and the 1st day of July
in each year; such portion of said certificates shall be registered and
such portion shall have interest coupons attached thereto as the governor,
comptroller of the treasury and treasurer, or a majority of them, shall
determine.

1910, ch. 116. sec. 32 w (p. 308).

55. In order to provide for the selling of the certificates of indebt-
edness aforesaid, to be issued under the provisions of this act, the
governor, comptroller of the treasury and treasurer 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 December, 1910, and the first

day of January, 1911 and by a like notice between the first day of
December and the first day of January for the next succeeding three
years, in two newspapers published in the city of Baltimore that the
treasurer of this State will be in readiness between the first day of
January and the fifteenth day of January, 1911, and each succeeding
year up to and including the year 1914, between the first day of Janu-
ary and the fifteenth day of January, in each of said years, to receive
bids at such places as may be named in said respective advertisements
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 payment for said
bonds and certificates shall be adjusted with the purchaser thereof under
such regulations as may be made in the discretion of the governor, comp-
troller of the treasury and treasurer, or a majority of them; and upon
the day mentioned in said advertisement as the day for owning the
bids for the proposals thereby called for they shall receive such sealed
proposals for the purchase of as many of such certificates of indebted-
ness as may be designated 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 respon-
sible bidder or bidders therefor for cash, if the price bid is adequate,
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, comp-
troller 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.