728 LAWS OF MARYLAND. [CH. 227

SEC. 4. And be it further enacted, That in order to provide
for the selling of the certificates of indebtedness aforesaid, to
be issued under the provisions of this Act, the Governor, Comp-
troller of the Treasury and the Treasurer of this State, or a
majority of them, are hereby directed to advertise twice a
week for four successive weeks before the said certificates of
indebtedness, or any part thereof, shall be issued in two news-
papers 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 provi-
sions of this Act, 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 the accrued interest be-
tween 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 discre-
tion of the Governor, Comptroller of the Treasury, and Treas-
urer, or a majority of them; and upon the day mentioned in
said advertisement as the day for opening the bids for the pro-
posals thereby called for they shall receive such sealed pro-
posals for the purchase of as many of such bonds or certificates
of indebtedness as may be mentioned or designated in said
advertisement; 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 Treasury, 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 bidders bidding the same price in a ratable propor-
tion; and if any of said certificates so offered for sale are not
bid for, or if an 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