PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 1399

cates of indebtedness as may be mentioned or designated in said
advertisements; and on the opening of such sealed proposals,
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, Comp-
troller of the Treasury and Treasurer, or a majority of them;
and when two or mpre bidders have made the same bid, and such
bid is the highest and the bonds or certificates so bid for by
the highest responsible bidders are in excess of the whole amount
of the bonds or certificates so offered for sale, such bonds or
certificates or indebtedness shall be awarded to such highest
responsible bidders bidding the same price in a ratable propor-
tion; and if any of said bonds or 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 direction
of the Governor, Comptroller of the Treasury and Treasurer, 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 a
private sale for less than par and accrued interest.

SEC. 6. And be it further enacted, That the sum of five
thousand dollars ($5,000) or so much thereof as may be neces-
sary, shall be paid by the Treasurer of this State upon the
warrant of the Comptroller out of the proceeds of the sale
of the 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 inci-
dental expenses connected with the execution of its provisions
in connection with said loan.

SEC. 7. And be it further enacted, That the County Com-
missioners of the several Counties of this State and the Mayor
and City Council of Baltimore are hereby respectively directed
to levy the State taxes for the years 1915 and 1916 at three-
eighths of one cent on each one hundred dollars of assessable
property; and for the year 1917 and annually thereafter to and
including the year 1929, at seven-eighths of one cent on each
one hundred dollars of assessable property to be collected ac-
cording to law, to meet the interest on the amount of bonds or
certificates outstanding and also to meet and redeem so much of
the principal, in each of said years, as will be represented by
bonds or certificates redeemable in each year, respectively, as