1290 LAWS OF MARYLAND. [CH. 547

tioned in said advertisements as the time for opening the bids
for the proposals thereby called for, the said County Commis-
sioners shall receive such sealed 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 pro-
posals, 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 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 responsible bid-
ders 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 insuffi-
cient 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; 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 said bonds shall be used exclusively f or
the following purposes, to wit:

(a) For the payment of the cost of engraving or printing
said bonds, and for the payment of the cost of the advertising
authorized by this Act, and all other incidental expenses con-
nected with the issuance of said bonds.

(b) The remainder of the proceeds from the sale of said
bonds shall be used, expended and applied by said County Com-
missioners for constructing, widening and improving such;
roads and bridges on the present existing highways, and acquir-
ing land therefor as in the judgment of the said County Com-
missioners shall be deemed necessary in carrying out the pro-
visions of this Act.

SEC. 5. And be it further enacted, That for the purpose of
paying the interest on said bonds, and for redeeming the said
bonds as they mature, the said Board of County Commission-
ers of Montgomery County shall for the year of the issuance-
of said bonds and annually thereafter, until all of said bonds