ALBERT C. RITCHIE, GOVERNOR. 1019

payable semi-annually; and any portion or all of said certifi-
cates may be registered, or not registered, and the said certifi-
cates, or any portion thereof, shall have interest coupons
attached, or said certificates, or any portion thereof, shall not
have interest coupons attached, all as the Governor, Comp-
troller of the Treasury and Treasurer, or a majority of them,
shall determine.

SEC. 4. And be it further enacted, That in order to provide
for the selling of the certificates of indebtedness aforesaid, to
be issued under the provisions of this Act, the Governor, Comp-
troller of the Treasury and the Treasurer of this State, or a
majority of them, are hereby directed to advertise twice a week
for four successive weeks before the said certificates of indebt-
edness, 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 a 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 provi-
sions 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 inter-
est between the date of the bonds or certificates of indebted-
ness and the time of sale and delivery of and payment for said
bonds or certificates of indebtedness shall be adjusted with
the purchaser thereof 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 upon the day men-
tioned 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 pro-
posals, 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, 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 bidder are in excess of the
whole amount of the certificates offered for sale, such bonds
or certificates of indebtedness shall be awarded to such respon-