198 LAWS OP MARYLAND. [CH. 83

bidders therefor for cash, if the prices bid are adequate,
in the judgment of the Governor, Comptroller of the Treas-
ury, 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; and if any
of said certificates so offered for sale are not bid for, or if
any insufficient price be bid for them, they may be subse-
quently 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 pri-
vate sale for less than par and accrued interest.

SEC. 5. And be it further enacted, That the sum of Ten
Thousand Dollars ($10, 000) or so much thereof as may be
necessary, shall be paid by the Treasurer of the State, upon
the warrant of the Comptroller, out of the proceeds of the
sale of said bonds, or certificates of indebtedness, for the
payment of the expense of engraving, printing and other
outlays connected with the issue of the loan hereby author-
ized, and for the payment of the advertising directed by
this Act, and all other incidental expenses connected with
the execution of its provisions in connection with said loan.

SEC. 6. And be it further enacted, That the actual cash
proceeds of the sale of the certificates of indebtedness to be
issued under this Act shall be paid to the Treasurer of the
State, upon the warrant of the Comptroller, and such pro-
ceeds shall be used exclusively for the following purposes,
to wit:

The Comptroller shall, immediately upon the sale of and
payment for any and all of the certificates of indebtedness
authorized by this Act, first return to and credit the Treas-
ury for a sum equivalent to the amount expended as pro-
vided for by Section 5 of this Act; the remainder of the
proceeds of said loan shall be credited on the books of the
State Treasury Department to the Board of Public Works
in a special account to be known as the "Emergency Re-
construction Fund, " and shall be turned over to said Board
of Public Works from time to time, whenever and as called
for, and shall be used and expended by the said Board of
Public Works for the following purposes: For the construc-