HARRY W. NICE, GOVERNOR. 1227

remain exempt from; State, county and municipal taxation
of every kind whatsoever in the State of Maryland.

SEC. 4. And be it further enacted, That in the event the
Board of County Commissioners of Montgomery County
shall determine to sell all or any part of said bonds at pub-
lic sale at any time then and in such event said Board of
County Commissioners of Montgomery County shall adver-
tise at least once a week for two successive weeks in one
newspaper published in the City of Baltimore, Maryland,
and at least once a week for two successive weeks in two
newspapers published in Montgomery County, Maryland,
and by such other advertisement as they shall think proper,
that they will be in readiness at the time and place to be
named in said advertisement within fifteen (15) days after
the final publication thereof in said newspapers to receive
sealed bids for the bonds, including the amount thereof,
described in said advertisement, under such regulations as
the said Board of County Commissioners of Montgomery
County by their order may prescribe. Upon the day men-
tioned in said advertisement for opening the bids for said
bonds, as described therein, the Board of County Commis-
sioners of Montgomery County shall receive bids for the
purchase of said bonds and on opening said bids in public
the bonds so bid for shall be awarded by the Board of
County Commissioners of Montgomery County to the high-
est responsible bidder or bidders therefor for cash, if the
prices bid are adequate in the judgment of the Board of
County Commissioners of Montgomery County, and when
two or more bidders have made the same bid and such bid
is the highest and for the whole amount of the bonds so
offered for sale or, taken together, are in excess of said
whole amount, such bonds shall be awarded to such highest
responsible bidders bidding the same price in a ratable pro-
portion; and if any of said bonds so offered for sale at any
time are not bid for, or if an insufficient price is bid for
them, they may be subsequently disposed of under the di-
rection of the Board of County Commissioners of Mont-
gomery County at a private sale upon the best terms that
can be obtained for the same, provided, however, that noth-
ing herein contained shall be construed as preventing a
private sale of said bonds, and said Board of County Com-
missioners of Montgomery County are hereby expressly
authorized and empowered to issue and sell all or any part
of said bonds at any time and from time to time, either at
public or private sale, and upon such terms, at, above or