HARRY W. NICE, GOVERNOR. 169

insufficient price be bid for them, they may be subsequently
disposed of under the direction of the Governor, Comp-
troller of the Treasury and Treasurer, or a majority of
them, at a private sale upon the best terms they can ob-
tain 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 pro-
ceeds of the sale of said bonds or Certificates of Indebted-
ness, for the payment of the expense of engraving, print-
ing and other outlays connected with the issue of the loan
hereby authorized, and for the payment of the advertis-
ing directed by this Act, and all other incidental expenses
connected with the execution of its provisions in connec-
tion 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 proceeds shall be used exclusively for the following
purposes, to wit:

The Comptroller shall immediately upon the sale of and
payment for said bonds or Certificates of Indebtedness,
first return to and credit the Treasury for a sum equiva-
lent to the amount expended, as provided 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 De-
partment in the amounts hereinafter specified, to the
credit of the accounts, institutions and departments here-
inafter named, and shall be used, expended and applied
for the following purposes:

(1) To the General Treasury, in order to absorb the
prospective deficit in the State Treasury for the fiscal
year ending September 30th, 1935, $2,300,000.00 from the
issue of April 15th, 1935.

(2) To the General Treasury, in order to supply work-
ing Capital, $1,500,000.00, from the issue of April 15th,
1935.

(3) To the Annuity Bond Account, to offset an antici-
pated decline in the taxable basis, $500,000.00 from the
issue of April 15th, 1935.