828 LAWS OF MARYLAND. [CH. 281

said advertisements as the time for opening the bids for the pro-
posals thereby called for, the said County Commissioners shall
receive such sealed proposals for the purchase of as many of
such bonds as may be mentioned or designated in said adver-
tisements and on the opening of such sealed proposals, as many
of said bonds as have been so bid for shall be awarded by the
said County Commissioners to the highest responsible bidder
or bidders therefor, for cash, if the prices bid are adequate in
the judgment of said County Commissioners; 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
bidders are in excess of the whole amount of the bonds offered
for sale, such bonds shall be awarded to such responsible bid-
ders 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,
at a private sale upon the best terms they can obtain for the
same; provided 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 pro-
ceeds from the sale of said bonds shall be used exclusively for
the following purposes, to wit:

(1) For the payment of the costs of the engraving or print-
ing of said bonds and for the payment of the costs of advertis-
ing authorized by this Act and all other incidental expenses
connected with the issuance of said bonds.

(2) The remainder of the proceeds of the sale of said bonds
shall be paid over to the Board of Education of Washington
County and shall be used, expended and applied by the said
Board for the following purposes, to wit:

(a) One-half for the purchasing, acquiring or condemning
a site and constructing, building, equipping and furnishing a
high school building on said site, in the town of Hancock.

(b) The other one-half for the purchasing, acquiring or con-
demning a site and constructing, building, equipping and fur-
nishing a high school building on said site, in the town of
Smithsburg.

Provided, however, that the funds herein enumerated and
for the specified purposes herein outlined shall be expended as