PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 393

be issued under the provisions of this Act, the Governor, Comp-
troller of the Treasury and Treasurer of this State, or a ma-
jority of them, are hereby directed to advertise twice a week
for four successive weeks before the said certificates of indebted-
ness, or any part thereof, shall be issued, in two newspapers
published in the City of Baltimore, that the Treasurer of this
State will be in readiness at any time within fifteen days after
the expiration of said notice to receive bids at such place or
places as may be named in said respective advertisements for
bonds or certificates of indebtedness issued under the provisions
of this Act, 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 the accrued interest
between the date of the bonds or certificates of indebtedness
and the time of sale and delivery of and payment for
said bonds or certificates of indebtedness shall be ad-
justed with the purchaser thereof under such regula-
latlons 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 mentioned 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 bonds or certificates of indebtedness as
may be mentioned or designated in said advertisement; 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 bid-
ders therefor for cash, if the prices bid are adequate, in the
judgment of the Governor, Comptroller of the Treasury 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 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 cf 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 private sale for less than par and accrued interest.