ALBERT C. RITCHIE, GOVERNOR. 733
County Commissioners as aforesaid, payable semi-annual!y,
and the said bonds shall be coupon bonds.
SEC. 4. And be it further enacted, That in order to provide
for the selling of said bonds the said County Commissioners
are hereby directed to advertise twice a week for four suc-
cessive weeks before the said bonds of any part thereof shall
be issued, in one newspaper printed and published in Talbot
County and in such other newspapers or publications as the
said Board of County Commissioners may deem expedient,
and the said County Commissioners shall 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
advertisement or advertisements of said bonds, under such,
regulations as may be made in the discretion of said County
Commissioners, and the accrued interest between the date of
the bonds or certificates of indebtedness and the time of the
sale and delivery and payment of said bonds shall be ad-
justed with the purchasers thereof under such regulations
as may be, in the discretion of County Commissioners,
just and proper, and upon the day mentioned in said adver-
tisement or advertisements as the day for opening said bids
for the proposals thereby called for they shall receive such
sealed proposals for the purchase of as many of such bonds
as may be mentioned and designated in said advertisement,
and on the opening of such sealed proposals as many of said
bonds as have been so bid for shall be awarded by the County
Commissioners to the highest responsible bidder or bidders
thereof for cash, if the price, in the judgment of said Com-
missioners, be adequate, and when two or more bidders have
made the same bid and said bid is the highest and the bonds
so bid by the highest responsible bidders are in excess of the
whole amount of the bonds so offered for sale, such bonds
shall be awarded to the highest responsible bidders bidding
the same price in a ratable proportion, and if any of such
certificates so offered for sale are not bid for or if an insuf-
ficient price be bid for them, in the discretion of said Com-
missioners they may be subsequently disposed of by the said
County Commissioners for Talbot County at private sale,
upon the best terms that can be obtained for the same; pro-
vided they shall not be sold at private sale for less than par
and accrued interest.
|
![clear space](../../../images/clear.gif) |