ALBERT C. RITCHIE, GOVERNOR. 71

SEC. 3. And be it further enacted, That the County Com-
missioners of Baltimore County before proceeding to sell any
of said bonds shall advertise twice a, week for four succes-
sive weeks in two newspapers published in the City of Balti-
more, and by such other advertisement as they may 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 described in
said advertisement under such regulations as the County Com-
missioners of Baltimore County by their order may pass. And
all accrued interest between the date of said bonds and the
time of sale and delivery of and payment of said bonds shall
be adjusted with the purchasers thereof. Upon the day men-
tioned in said advertisement for opening the bids for the pro-
posals thereby called for the County Commissioners of Balti-
more County shall receive such sealed proposals for the pur-
chase of said bonds as may be designated in the advertise-
ment. And on the opening of such sealed proposals by the
County Commissioners of Baltimore County, 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 re-
sponsible bidder or bidders therefor for cash, if the prices bid
are adequate in the judgment of the County 'Commissioners 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 together in
excess of said whole amount, such bonds shall be awarded
to such 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 direc-
tion of the County Commissioners of Baltimore County at a
private sale upon 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 b© made to the County Treas-
urer of Baltimore County.

SEC. 4. And be it further enacted. That out of the actual
cash proceeds of the sale of any of said bonds shall, be first paid
the cost of printing and other outlays connected with their
issue, and the entire balance of said actual cash proceeds, to-
gether with any interest that may be received on the same,
shall be retained by the County Treasurer of Baltimore County
until needed for the payment for the erection and equipment