ALBERT C. RITCHIE, GOVERNOR, 5

April 1, 1957................ $100, 000

April 1, 1958................ $100, 000

Said bonds shall be known as "Public Road Bonds of Balti-
more County. "

SEC. 3. And be it further enacted, That the County Com-
missioners of Baltimore County shall not issue and sell more
than ($500, 000) Five Hundred Thousand Dollars of said
bonds in any one year. Before proceeding to sell any of said
bonds in any year, said County Commissioners of Baltimore
County shall advertise twice a week for four successive weeks
in two newspapers published in the City of Baltimore, and
by such other advertisement as they shall think proper,
that they will be in readiness at a time and place to
be named in said advertisement, within fifteen days after
its expiration to receive sealed bids for the bonds de-
scribed in said advertisement under such regulations as
the County Commissioners, by their order may pass. And
all accrued interest between the date of said bonds and the
time of sale, and the date of delivery of and payment of said
bonds shall be adjusted with the purchasers thereof. Upon the
day mentioned in said advertisement for opening the bids for
the proposals thereby called for, the County Commissioners
shall receive such sealed proposals for the purchase of said
bonds as may be designated in said advertisement. And
upon the opening of such sealed proposals, as many of said
bonds as may have been so bid for shall be awarded by the
County Commissioners of Baltimore County to the highest
responsible bidder or bidders therefor for cash, if the prices
bid are adequate in the judgment of the County Commission-
ers of Baltimore County, and when two or more bidders have
made the same bid, and such bid is the highest and for the
whole amount of the bonds so offered for sale, or taken to-
gether in excess of said whole amount, such bonds shall be
awarded to the highest 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 any insufficient price be
bid for them, they may be subsequently disposed of under the
direction of the County Commissioners of Baltimore County
at a private sale at the best terms that can be obtained for the
same; provided they shall not be sold at private sale for less
than par and accrued interest. All payments of the pur-
chase price of said bonds shall be made to the County Treas-
urer.