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Session Laws, 1922
Volume 563, Page 1232   View pdf image (33K)
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1230 LAWS OF MARYLAND. [CH. 494.

sponsible bidders bidding the same price in a ratable pro-
portion; 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 for
less than par and accrued interest.

SEC. 7. And be it further enacted, That the sum of ten
thousand dollars ($10,000,00) 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 in connection with the execution of its
provisions pertaining to said loan.

SEC. 8. And be it further enacted, That the actual cash
proceeds of the sale of the certificates of indebtedness to be
issued under this Act shall be paid to the Treasurer of the
State, and such proceeds shall be used exclusively for the
following purposes, to wit: The Comptroller shall immediately
upon the sale of and payment for said bonds or certificates
of indebtedness first return to and credit the Treasury for
whatever advances or payments may have been made as pro-
vided for by Section 7 of this Act. The remainder of the
proceeds of said loan shall be turned over or credited to the
State Roads Commission, and by it used, expended and ap-
plied in accordance with the provisions of this Act for the
acquisition by purchase, condemnation or otherwise of the
bridge across the Susquehanna River between Havre de Grace,
in Harford County, and Perryville, Cecil County, together
with all land, roads, approaches, rights, franchises and ease-
ments belonging to any person or corporation and necessary
or convenient for the purposes specified in Section 48 of
Article 91 of the Annotated Code of Maryland. Any un-
expended balance which may remain shall be credited to the
retirement fund for said Loan.

SEC. 9. And be it further enacted, That for the purpose of
raising sufficient funds to pay the interest on the said bonds

 

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Session Laws, 1922
Volume 563, Page 1232   View pdf image (33K)
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