3512 ARTICLE 16.

the bonds and the time of sale and delivery of, and payment for, said
bonds shall be adjusted with the purchaser or purchasers thereof under
such regulations as may be made in the discretion of said County Com-
missioners, or a majority of them; and at the time mentioned in said
advertisements as the time for opening the bids for the proposals thereby
called for, the said County Commissioners shall receive such sealed pro-
posals for the purchase of as many of such bonds as may be mentioned
or designated in said advertisements; and on the opening of such sealed
proposals, as many of said bonds as have been so bid for shall be awarded
by said County Commissioners, or a majority of them, to the highest
responsible bidder or bidders therefor, for cash, if the prices bid are ade-
quate in the judgment of said County Commissioners, 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 so bid for by the highest responsible
bidders are in excess of the whole amount of the bonds offered for sale,
such bonds shall be awarded to such responsible bidders bidding the same
price in a ratable proportion; and if any of said bonds so offered for sale
are not bid for, or if an insufficient price be bid for them, they may subse-
quently be disposed of under the direction of said County Commissioners,
or a majority of them, at a private sale, upon the best terms they can
obtain for the same; provided however that said bonds shall not be sold
at private sale for less than par and accrued interest, and provided fur-
ther that said County Commissioners, in their discretion shall have the
right to reject any and all bids.

1927, ch. 692, sec. 5 1/2.

634. The actual cash proceeds from the sale of such bonds, after the
payment of the costs of printing and advertising said bonds, shall be used
exclusively for the construction, grading, widening and improvement of
roads, streets, highways, culverts and bridges and for the acquisition either
by purchase or condemnation of land, and any improvements thereon,
easements or rights of way on any property or rights necessary for the
location, grading, construction, improvement or widening of roads, bridges
and culverts within the limits of said District.

1927, ch. 692, sec. 6.

635. For the purpose of retiring the bonds authorized to be issued
under this Act and the payment of interest thereon, the County Commis-
sioners of Montgomery County are hereby authorized and directed to levy
against all the assessable property within the said Montgomery County
Suburban District, beginning with the next annual levy and continuing
annually thereafter, on each $100.00 of such assessable property, such
sum or sums as may be necessary to pay the interest on the bonds issued
in pursuance of the authority granted in Section 632 hereof and to retire
the same at maturity. And the County Commissioners are further author-
ized to levy against all the assessable property within the said Montgomery
County Suburban District beginning with the next annual levy and con-