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Session Laws, 1910 Session
Volume 487, Page 242   View pdf image (33K)
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242 LAWS OF MARYLAND.

them, to the highest responsible bidder or bidders therefor for
cash, if the prices bid are adequate, in the judgment of the
Governor, Comptroller and 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 in-
debtedness shall be awarded to such highest responsible bid-
ders bidding the same price in a ratable proportion; and if
any of said certificates 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 Treasury and Treasurer, or a majority of them, at pri-
vate sale, upon the best terms they can obtain for the same;
provided, they shall not be sold at less than par and accrued
interest.

SEC. 4. 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 this
State upon the warrant of the Comptroller; and such proceeds
shall be used for the purposes hereinbefore mentioned; and
shall be paid by the Treasurer upon the warrant of the Comp-
troller to the Board of Managers of the Maryland Tuberculo-
sis Sanatorium upon written orders of the Treasurer and
President or Vice-President thereof, from time to time, as
such sums may be required.

SEC. 5. And be it further enacted, That if the purposes
contemplated by this Act should not demand an immediate
sale of all the certificates provided for by this Act, the Gov-
ernor, Comptroller of the Treasury and State Treasurer, or a
majority of them, may issue advertisements from time to
time, in accordance with the provisions of this Act, for such
part or parts of said loan as may from time to time be re-
quired.

SEC. 6. And be it further enacted. That the sum of two
thousand dollars, or so much thereof as may be necessary, is
hereby appropriated for the payment of the expenses of en-
graving, printing and other outlays connected with the issue
of the loan hereby authorized, and for the payment of the
advertising directed by this Act, and all other incidental
expenses connected with the execution of its provisions.

SEC. 7. And be it further enacted, That the County Com-
missioners of the counties of this State and the Mayor and
City Council of Baltimore City, are directed to levy the State
taxes for the year 1911, and annually thereafter, at one-eighth
of one cent on each one hundred dollars of assessable property,


 

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Session Laws, 1910 Session
Volume 487, Page 242   View pdf image (33K)
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