1570 LAWS OF MARYLAND. [CH. 692

ments, for bonds issued under the provisions of this Act, under
such regulations as may be made in the discretion 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 ad-
vertisements as the time for opening the bids for the proposals
thereby called for, the said County Commissioners shall receive
such sealed proposals for the purchase of as many of such
bonds as mav be mentioned or designated in said advertise-

ments; and on the opening of such sealed proposals, 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 Commission-
ers, 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 bidding 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 majority of them, at a pri-
vate sale, upon the best terms they can obtain for the same;
provided however that said bonds shall not be sold at private
sale for less than par and accrued interest, and provided fur-
ther that said County Commissioners, in their discretion shall
have the right to reject any and all bids.

SEC. 5 1/2. And be it further enacted, That the actual cash
proceeds from the sale of such bonds, after the payment of the
costs of printing and advertising said bonds, shall be used ex-
clusively for the construction, grading, widening and improve-
ment of roads, streets, highways, culverts and bridges and for
the acquisition either by purchase or condemnation of land,
and any improvements thereon, easements or rights of way on
any property or rights necessary for the location, grading, con-
struction, improvement or widening of roads., bridges and cul-
verts within the limits of said District.

SEC. 6. And be it further enacted, That for the purpose
of retiring the bonds authorized to be issued under this Act