882 LAWS OF MARYLAND. [CH. 482

a week for three successive weeks in one newspaper pub-
lished in the City of Baltimore, Maryland, and at least once
a week for three successive weeks in one newspaper pub-
lished in Anne Arundel County, Maryland, and by such
other advertisement as they shall think proper, that they
will be in readiness at a time and place to be named in said
advertisement, within fifteen days after the third publica-
tion thereof in said newspapers, to receive sealed bids for
the bonds, including the amount thereof, described in said
advertisement, under such regulations as the said Mayor,
Counselor and Aldermen by their order may prescribe.
Upon the day mentioned in said advertisement for open-
ing the bids for said bonds as described therein, the Mayor,
Counselor and Aldermen shall receive bids for the pur-
chase of said bonds and on opening said bids in public the
bonds so bid for shall be awarded by the Mayor, Counselor
and Aldermen to the highest responsible bidder or bidders,
therefor for cash, if the prices bid are adequate in the
judgment of the Mayor, Counselor and Aldermen 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 Mayor, Counselor and Aldermen 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 pay-
ments of the purchase price of said bonds shall be made to
the City Treasurer of the City of Annapolis.

SEC. 5. 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 resi-
due 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 the City of
Annapolis to the payment of such part of the indebtedness
of said city existing on January 1, 1933, as may be due and