WM. PRESTON LANE, JR., GOVERNOR. 17

Each of said Certificates shall be signed by the Treasurer of
the State and countersigned by the Comptroller of the
Treasury.

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,
Comptroller of the Treasury and the Treasurer of this State,
or a majority of them, are hereby directed to advertise twice
a week for two successive weeks before the said Certificates
of Indebtedness, or any part thereof, shall be issued, in two
newspapers published in the City of Baltimore, that the
Treasurer of this State will be in readiness at a time within
fifteen (15) days after the expiration of said notice to re-
ceive bids at such place or places as may be named in said
respective advertisements for bonds or Certificates of Indebt-
edness issued under the provisions of this Act, under such
regulations as may be made in the discretion of the Gover-
nor, Comptroller of the Treasury and Treasurer, or a
majority of them; and accrued interest between the date of
the bonds or Certificates of Indebtedness and the time of
sale and delivery of and payments for said bonds or Certi-
ficates of Indebtedness shall be adjusted with the purchaser
thereof 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 upon the day men-
tioned 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 Indebtedness as may be mentioned or
designated in said advertisements; 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
bidder are in excess of the whole amount of the Certificates
offered for sale, such bonds or Certificates of Indebtedness
shall be awarded to such responsible bidders bidding the
same price in a ratable proportion; 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.