1606 LAWS OF MARYLAND. [CH. 704

bond issue authorized by this Act shall be offered for sale as
provided in this Act on or before December 1st, 1927, and the
remaining $400,000 of the bond issued authorized by this Act
shall be offered for sale as provided in this Act on or before
December 1st, 1928. The said bonds shall be issued in series
maturing as said County Commissioners shall determine but
none of said bonds shall be issued for longer period than twen-
ty years from date of issue.

SEC. 3. And be it further enacted, That in order to pro-
vide for the selling of said bonds to be issued under the pro-
visions of this Act, the said Board of County Commissioners
of Montgomery County, or a majority of them, are hereby di-
rected to advertise (once a week for four successive weeks
before said bonds,, or any part thereof, shall be issued) in such
newspapers at such times and in such manner as may be deter-
mined by the said Board, that the said Board of County Com-
missioners will be in readiness at a certain time within fifteen
days after the expiration of said notice, to receive bids at such
place as may be named in said advertisements, 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 pur-
chasers 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 advertisements as the
time for opening the bids for the proposals thereby called for,
the said County Commissioners shall receive such sealed pro-
posals for the purchase of as many of such bonds as may be
mentioned or designated in said advertisements; and on the
opening of such sealed proposals, as many of said bonds as have
been so bid for shall be awarded by the County Commissioners
or a majority to the highest responsible bidder or bidders there-
for, for cash, if the prices bid are adequate in the judgment of
the said County Commissioners 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 respon-
sible 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