10 LAWS OF MARYLAND. [On. 3

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 certificates of
indebtedness and the time of sale and delivery of and payment
for said certificates of indebtedness shall be adjusted with, the
purchaser thereof, 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 upon the day men-
tioned in said advertisement as the day for opening the bids
for the proposals thereby called for they shall receive such
sealed proposals for the purchase of as many of such certifi-
cates of indebtedness as may be mentioned or designated in
said advertisement; and on the opening of such sealed pro-
posals, 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 responsible bidder or bidders therefor for cash, if the
prices bid are adequate, in the judgment of the Governor,
Comptroller of the Treasury and the 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 to 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 subse-
quently 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.

SEC. 5. And be it further enacted, That the sum of ten
thousand dollars ($10, 000. 00), or so much thereof as may be
necessary, shall be paid by the Treasurer of the State, upon
the warrant of the Comptroller, out of any moneys available
therefor and not otherwise appropriated, for the payment of
the expenses of engraving, printing, advertising and other out-
lays connected with the issue of the loan hereby authorized,
and for all other preliminary expenses connected with the