1454 LAWS OF MARYLAND. [CH. 666

said, to be issued under the provisions of this Act, the Gov-
ernor, Comptroller of the Treasury, and Treasurer of this
State, or a majority of them, are hereby directed to advertise
twice a week for four successive weeks before the said certifi-
cates of indebtedness, 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
o! the Treasury and Treasurer, or a majority of them; and
the accrued interest between the date of the bonds or certifi-
cates 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 regu-
lations 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 advertisement as
the day for opening the bids for the proposals thereby called
for they shall receive such sealed proposals for the purchase
of as many of such bonds or certificates of indebtedness 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 Treas-
ury and Treasurer, or a majority of them, to the highest re-
sponsible 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 cer-
tificates so offered for sale, such bonds or certificates of in-
debtedness shall be awarded to such highest responsible bid-
ders, 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 subse-
quently 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 private sale
for less than par and accrued interest.