714 LAWS OF MARYLAND. [CH. 405

Arundel County shall receive bids for the purchase of said
bonds and on opening said bids in public the bonds so bid
for shall be awarded by the County Commissioners of Anne
Arundel County to the highest responsible bidder or bid-
ders therefor for cash, if the prices bid are adequate in the
judgment of the County Commissioners of Anne Arundel
County, and when two or more bidders have made the same
bid, and such bid is the highest and for the whole amount
of the bonds so offered for sale, or, taken together are in
excess of said whole amount, such bonds shall be awarded
to such highest responsible bidders bidding the same price,
in a ratable proportion; and if any of said bonds so offered
for sale at any time are not bid for, or if an insufficient
price be bid for them, they may be subsequently disposed
of under the direction of the County Commissioners of
Anne Arundel County at a private sale upon the best terms
that can be obtained for the same; provided, however, that
said bonds shall not be sold at private sale for less than
par. All interest accrued between the date of said bonds
and the time of the delivery of and payment for the same
shall be adjusted with the purchasers thereof to the date
of such payment. All payments of the purchase price of
said bonds shall be made to the Treasurer of Anne Arundel
County.

SEC. 8. And be it further enacted, That after receiving
the purchase price for such of said bonds as may be sold
and paying therefrom all expenses of every character inci-
dent to the issue, preparation and delivery thereof, the
residue of said proceeds, saving any accrued interest
thereon, which shall be set apart by said Treasurer for the
payment of the next maturing interest on said bonds, shall
be applied as promptly as possible by the Treasurer of Anne
Arundel County to the payment of such part of the floating
indebtedness of said County, evidenced by said notes, not
exceeding in the aggregate $750, 000. 00, due to mature dur-
ing the year 1933, or of any renewal or renewals of said
notes or of any notes issued under the provisions of this
Act, or any renewal or renewals thereof, identified on the
books of the Treasurer as the floating debt of Anne Arun-
del County.

SEC. 9. And be it further enacted, That for the purpose
of paying the interest on said bonds and paying the bonds
themselves as they respectively mature and are payable,
after the issue and sale thereof under the provisions of this
Act, said County Commissioners of Anne Arundel County