ALBERT C. RITCHIE, GOVERNOR. 809

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 ma-
jority of them, are hereby directed to advertise twice a week
for four successive weeks before the said certificates of indebt-
eness. 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 provisions 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 interest between the
date of the bonds or certificates of indebtedness and the time of
sale and delivery of any 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 mentioned in said adver-
tisement as the day for opening the bids for the proposals there-
by called for they shall receive such sealed proposals for the
purchase of as many of such bonds or certificates of indebted-
ness as may be mentioned or designated in said advertisement;
and on the opening of such sealed proposals, 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 bid-
der or bidders therefor for cash, if the prices bid are adequate
in the judgment of the Governor, Comptroller of the Treasury,
and 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 pri-
vate sale for less than par and accrued interest.