2994 ARTICLE 78A

sessions of the General Assembly in sum or sums not to exceed $50,000
in the aggregate to meet temporary deficits in the treasury; and in addi-
tion thereto the said Board of Public Works is hereby authorized and
empowered to borrow upon the credit of the State in sum or sums not to
exceed $1,000,000 in the aggregate, in anticipation of taxes levied for any
year. All loans made in pursuance of this section shall bear interest at
a rate to be determined by the Board of Public Works, and shall mature
and be repaid on or before the end of the biennium in which such sums
are borrowed.

1939, ch. 64, see. 5.

5. The Board of Public Works shall have power to adopt rules and
regulations, upon recommendation of the Comptroller, covering matters
of business administration in the various departments, institutions and
agencies of the State, including the fixing of uniform rates of mileage
allowance, and the terms and renewals of all bonds furnished by State
officials and employees. Any such rules and regulations when adopted
shall be binding upon all the departments, institutions and other agencies
affected thereby.¹

1939, ch. 390.

6. The Board of Public Works is authorized and empowered, in its
discretion, to sell at public or private sale, any shares of stock, debentures
or certificates of beneficial interest in any Banking Institution of this
State, now or hereafter held by the State Treasurer, but the proceeds of
any such sale shall be paid into the general Treasury of the State, to be
appropriated therefrom in the manner and for the purposes prescribed
in the Budget.

An. Code, 1924, sec. 11. 1912, sec. 11. 1904, sec. 11. 1898, ch. 378, sec. 1. 1935, ch. 106,

7. The Board of Public Works is authorized, in the discretion of said
Board, to call for sealed bids and to sell to the highest bidder for cash and
to transfer to the purchaser or purchasers thereof the annuity of ninety
thousand dollars created by virtue or in pursuance of the provisions of
Chapter 260 of the Acts of the General Assembly of Maryland, passed
at the January session of 1854, and which said annuity is payable by the
Northern Central Railway Company to the State of Maryland; provided,
said Board of Public Works shall not sell and transfer the same for any
smaller or less sum of money than a sum equal to the capitalization of said
annuity at the rate of four per centum, together with the amounts of such
quarterly payments as may then be due and unpaid, and interest thereon,
and the proportionate part of the accruing quarterly payment, calculated
to the day of such transfer; and provided further, that said Board of
Public Works may accept in payment or in part payment of the purchase
price of said annuity, the bonds of or registered debt owing by the State
at the market value thereof, or cash, in its discretion; and such purchaser
or purchasers, its and their successor, successors or assigns (if such pur-
chaser or purchasers be a body corporate or bodies corporate), or his, her
or their executors, administrators or assigns (if such purchaser or pur-
chasers be a natural person or persons), shall, upon such transfer of and

¹ Sec. 7, ch. 64, 1939 provided that the invalidity of any provision of said Act shall
not be affected thereby and sec. 8 of said Act repealed all laws inconsistent therewith
to extent of such inconsistency.