EMERSON C. HARRINGTON, GOVERNOR. 1541

in said advertisement; and on the opening of such sealed pro-
posals, as many of said bonds or certificates of indebtedness as
have been so bid for shall be awarded by the Governor, Comp-
troller 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 Gover-
nor, 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 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 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.

SEC. 5. 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 pro-
visions in connection with said loan.

SEC. 6. And be it further enacted, That in order that there
shall be no delay in carrying into effect the provisions of this
Act, the sum of Fifty Thousand Dollars ($50, 000), or so
much thereof as may be necessary, be and the same is hereby
appropriated from the Treasury proper for the year 1916 for
the carrying out of the provisions of this Act.

SEC. 7. And be it further enacted, That the actual cash
proceeds of the sale of 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 exclusively, as far as the same are required, for the pur-
poses provided in this Act, to wit: The Comptroller shall
immediately upon the sale and payment of said bonds or cer-