816 LAWS OF MARYLAND. [CH. 277

the Governor, Comptroller 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 indebted-
ness, 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 discre-
tion of the Governor, Comptroller of the Treasury, and Treas-
urer, 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 discre-
tion of the Governor, Comptroller of the Treasury, and Treas-
urer, or a majority of them; and upon the day mentioned in
said advertisement as the day for opening the bids for the pro-
posals thereby called for they shall receive such sealed proposals
for the purchase of as many of such bonds or certificates of in-
debtedness as may be mentioned or designated in said adver-
tisement; 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 bidder 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 in-
debtedness 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 in-
sufficient price be bid for them, they may be subsequently dis-
posed of under the direction of the Governor, Comptroller of
the Treasury, and Treasurer, or a majority of them, at a pri-