1272 LAWS OF MARYLAND. [CH. 633

ity of them, to the highest responsible bidder or bidders
therefor for cash, if the prices bid are adequate, in the judg-
ment, of the Governor, Comptroller of the Treasury, and Treas-
urer, 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 award-
ed 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 an 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
the best terms they can obtain for the same, provided they
shall not be sold at private sale for less than par and accrued
interest.

SEC. 5. And be it further enacted, That the sum of ten
thousand dollars ($10, 000), 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 connected with the execution of its pro-
visions in connection with said loan.

SEC. 6. 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 exclusively for the follow-
ing purposes, to wit:

The Comptroller shall, immediately upon sale of and pay-
ment for said bonds or certificates of indebtedness, first return
to and credit the Treasury with whatever advances or pay-
ments may have been made as provided for by Section 5 of
this Act. The remainder of the proceeds of said loan shall
thereupon be turned over to the Mayor and City Council of
Baltimore for the purpose of paying part of the cost of secur-
ing property, either by purchase or condemnation, and for the
grading, paving and construction of the plaza in connection
with the Fifth Regiment Armory in the City of Baltimore in
accordance with the provisions of Ordinance No. 1401 now
pending in the City Council of said City. Provided, however,
that no part of said loan shall be issued or the proceeds paid
over to the Mayor and City Council of Baltimore until the