1160 LAWS OF MARYLAND. [CH. 475

have been issued and sold. The said bonds shall be issued in
series maturing as said County Commissioners shall determine,
but none of said bonds shall be issued for a longer period than
twenty-five years from the date of issue.

SEC. 3. And be it further enacted, That in order to pro-
vide for the selling of said bonds to be issued under the pro-
visions of this Act. the said Board of County Commissioners
of Montgomery County, or a majority of them, are hereby di-
rected to advertise once a week for four successive weeks be-
fore said bonds, or any part thereof, shall be issued in such
newspapers as may be determined by the said Board, that the
said Board of County Commissioners will be in readiness at
a certain time within fifteen days after the expiration of
said notice, to receive bids at such place as may be named in
said advertisements, for bonds issued under the provisions of
this Act, under such regulations as may be made in the dis-
cretion of said County Commissioners, or a majority of them,
and the accrued interest between the date of the bonds and the
time of sale and delivery of, and payment for, said bonds shall
be adjusted with the purchaser or purchasers thereof under
such regulations as may be made in the discretion of said
County Commissioners, or a majority of them; and at the time
mentioned in said advertisements as the time for opening the
bids for the proposals thereby called for, the said County Com-
missioners shall receive such sealed proposals for the purchase
of as many of such bonds as may be mentioned or designated
in said advertisements; and on the opening of such sealed pro-
posals, as many of said bonds as have been so bid for shall be
awarded by said County Commissioners, 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 said County
Commissioners, or a majority of them; and when two or more
bidders have made the same bid, and such bid is the highest
and the bonds so bid for by the highest responsible bidders are
in excess of the whole amount of the bonds offered for sale,
such bonds shall be awarded to such responsible bidders bid-
ding the same price in a ratable proportion; and if any of said
bonds so offered for sale are not bid for, or if an insufficient
price be bid for them, they may subsequently be disposed of
under the direction of said County Commissioners, or a ma-
jority of them, at a private sale, upon the best terms they can
obtain for the same: provided said bonds shall not be sold at