ALBERT C. RITCHIE, GOVERNOR. 253

published in the City of Baltimore, that the Treasurer of this
State will be in readiness at a time within fifteen days after
the expiration of said notice to receive bids at such place or
places as may be named in said respective advertisements for
bonds or certificates of indebtedness issued under the provisions
of this Act, under such regulations as may be made in the dis-
cretion of the Governor, Comptroller of the Treasury, and
Treasurer, or a majority of them; and the accrued interest
between the date of the bonds or certificates of indebtedness and
the time of sale and delivery of any payment for said bonds or
certificates of indebtedness shall be adjusted with the purchaser
thereof under such regulations as may be made in the discretion
of the Governor, Comptroller of the Treasury, and Treasurer,
or a majority of them; and upon the day mentioned in said
advertisement as the day for opening the bids for the proposals
thereby called for they shall receive such sealed proposals for
the purchase of as many of such bonds or certificates of in-
debtedness as may be mentioned or designated in said advertise-
ment; and on the opening of such sealed proposals, as many of
said bonds or certificates of indebtedness as have been so bid for
shall be awarded by the Governor, Comptroller of the Treas-
ury, and Treasurer, 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 Governor, Comptroller
of the Treasury, and Treasurer, or a majority of them, and
when two or more bidders have made the same bid, and such
bid is the highest and the certificates so bid for by the highest
responsible bidders are in excess of the whole amount of the
certificates so offered for sale, such bonds or certificates of
indebtedness shall be awarded to such highest responsible bid-
ders bidding the same price in a ratable proportion; and if any
of said certificates 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 Governor, Comptroller of
the Treasury, and Treasurer, or a majority of them, at a
private sale upon the best terms they can obtain for the same,
provided they shall not be sold at private sale for less than par
and accrued interest,

SEC. 5. And be it further enacted, That the sum of ten
thousand dollars ($10, 000), or so much thereof as may be
necessary, shall be paid by the Treasurer of this State upon the
warrant of the Comptroller out of the proceeds of the sale of
bonds or certificates of indebtedness for the payment of the