ALBERT C. RITCHIE., GOVERNOR. 693

powered to issue the said bonds and sell the same at such time
and in such amounts as they may deem necessary. The said
bonds shall be issued in series maturing as said County Com-
missioners shall determine, but none of said bonds shall be
issued for a longer period than forty years from the date of
issue.

SEC. 4. And lie it further enacted, That in order to provide
for the selling of said bonds to be issued under the provisions
of this Act, the said Board of County Commissioners of Mont-
gomery County, or a majority of them, are hereby directed to
advertise once a week for four successive weeks before said
bonds, or any part thereof, shall be issued in such newspapers
as may be determined by the said Board, that the said Board of
County Commissioners 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 regu-
lations as may be made in the discretion of said County Com-
missioners, or a 'majority of them, and the accrued interest be-
tween 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 advertise-
ments as the time for opening1 the bids for the proposals 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 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 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 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 di-
rection of said County Commissioners, or a majority of them,
at a private sale, upon the best terms they can obtain for the
same; provided said bonds shall not be sold at private sale for
less than par and accrued interest, and provided further that