EMERSON C. HARRINGTON, GOVERNOR. 723

said certificates, or any portion thereof, shall have interest
coupons attached, or said certificates, or any portion thereof,
shall not have interest coupons attached, all as the Governor,
the Comptroller and the Treasurer, or a majority of them,
shall, from time -to time, determine.

SEC. 4. And be it further enacted, That in order to provide
for the sale of the certificates of indebtedness issued under this
Act, the Governor, the Comptroller and the Treasurer, or a ma-
jority of them, are hereby directed to advertise, twice a week
for four successive weeks, in two daily newspapers published
in the City of Baltimore, before the said certificates, or any
part thereof, shall be issued, that the Treasurer of the State
will be in readiness, at a time within fifteen days after the ex-
piration of said notice, to receive sealed bids or proposals, at
such place or places as may be named in said advertisements,
for certificates of indebtedness to be issued under the pro-
visions of this Act, under such regulations as may be made, in
the discretion of the Governor, the Comptroller and the Treas-
urer, or a majority of them. Upon the day mentioned in said
advertisement as the day for opening the bids for the proposals
thereby called for, the Governor, the Comptroller and the
Treasurer, or a majority of them, shall receive such sealed pro-
posals for the purchase of as many of such certificates of in-
debtedness as may be mentioned and designated in said advei-
tisement; and on the opening of such proposals, 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 ade-
quate, 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 re-
sponsible 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 cer-
tificates so offered for sale are not bid for, or if an insufficient
price be bid for them, they may be subsequently disposed of
under the direction of the Governor, Comptroller of the Treas-
ury and Treasurer, or a majority of them, at private sale upon
the best terms they can obtain for the same; provided they