718 LAWS OF MARYLAND. [CH. 295

posals, as many of said bonds or 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 is1 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 bonds or 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 subsequently disposed of under the direc-
tion of the Governor, Comptroller of the Treasury and Treas-
urer, or a majority of them, at a 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. 6. And be it further enacted, That the sum of ten
thousand dollars ($10,000), or so much thereof as may be
necessary, shall be paid by the Treasurer of this State upon
the warrant of the Comptroller out of the proceeds of the sale
of bonds or certificates of indebtedness, for the payment of
the expense of engraving, printing and other outlays connected
with the issue of the loan hereby authorized, and for the pay-
ment of the advertising directed by this Act, and all other
incidental expenses connected with the execution of its provi-
sions in connection with said loan.

SEC. 6. And be it further enacted, That the actual cash
proceeds of the sale of the certificates of indebtedness to be
issued under this Act, shall be paid to the Treasurer of the
State, upon the warrant of the Comptroller, and such pro-
ceeds shall be used exclusively for the following purposes, to
wit: The Comptroller shall immediately upon the sale of, and
payment for said bonds or certificates of indebtedness, first
return to and credit the Treasury for whatever advances or
payments may have been made, as provided for by Section 5
of this Act. The remainder of the proceeds of said loan shall
be turned over or credited to the State Roads Commission,
and by it used, expended and applied as follows: One-fifth
of such remainder shall be used and expended in the City of
Baltimore for the grading, paving and curbing of such streets,