ALBERT C. RITCHIE, GOVERNOR. 861

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 bid-
ders 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 high-
est 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 private
sale, *upon the best terms they can obtain for the same; pro-
vided said bonds shall not be sold at private sale for less
than par and accrued interest; and provided further that
said County Commissioners, in their discretion, shall have the
right to reject any and all bids.

SEC. 4. And be it further enacted, That the actual cash
proceeds of the sale of the aforesaid bonds, to be issued under
this Act, shall be immediately deposited to the credit of the
treasurer of said Howard County, in such bank as he shall
designate, and shall only be withdrawn therefrom and paid
out by said Treasurer, if, when and as orders thereon are
drawn on him by the County Commissioners of Howard Coun-
ty, or a majority of them, and no part of said funds shall
be used except for the purposes designated and provided for
in this Act, provided that the cost of engraving or printing
said bonds, and the cost of the advertising, authorized by
this Act, and the other incidental expenses connected with the
issuing of said bonds, may be paid out of said funds.

SEC. 5. And be it further enacted, That after the pay-
ment of the expenses provided for in the next preceding para-
graph, the balance of the proceeds of said bonds shall be ap-
propriated and used by said County Commissioners for the
purpose of paying the indebtedness (other than the bonded
indebtedness) of said County, and the floating debt thereof, and
the current expenses of said County, until the taxes to be levied
in the year 1927, are available for that purpose, and the sur-
plus (if any there be) shall be set aside by said County Com-
misioners, and used by them to retire said Bonds.

SEC. 6. And be it further enacted., That for the purpose
of paying the interest on said bonds and for redeeming said