982 LAWS OF MARYLAND. [CH. 349

said bonds, or any part thereof, shall be issued, in such news-
papers as may be determined by the said Board, that the said
Board of County Commissioners will be in readiness at a
certain time within fifteen days after the expiration of said
advertisements, to receive bids at such place as may be named
in said advertisements for bonds issued under the provisions of
this Act, under such regulations as may be made in the discre-
tion of said County Commissioners, or a majority of them,
and the accrued interest between the date of the bonds and the
time of sale and delivery of, and payment for, said bonds shall
be adjusted with the purchaser or purchasers thereof under
such regulations as may be made in the discretion of said
County Commissioners, or a majority of them; and at the
time mentioned in said advertisements as the time for opening
the bids for the proposals 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 advertisements; and on the opening of such
sealed proposals, 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 judg-
ment of 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 bidders 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 pro-
portion; 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, 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
for the following purposes, to wit:

(1) For the payment of the cost of the engraving or print-
ing of said bonds, and for the payment of the cost of the ad-
vertising authorized by this Act, and all other incidental ex-
penses connected with the issuance of said bonds.