ALBERT C. RITCHIE, GOVERNOR.                  231

County Commissioners is authorized and empowered to issue
and sell such bonds at such time and in such amounts as it
may in its discretion deem necessary and proper.

SEC. 3. And be it further enacted, That in order to pro-
vide for the selling of said bonds to be issued under the pro-
visions of this Act, the said Board of County Commissioners
of Montgomery County are hereby directed to advertise once
a week for two successive weeks before said bonds, or any part
thereof, shall be issued in such newspapers and publications
as may be determined by the said board, that the said Board
of County Commissioners will be in readiness at a certain time
and place to be named in said advertisements to receive bids
for the bonds, or any part thereof, issued under the provi-
sions of this Act, under such regulations as may be made in
the discretion of said County Commissioners, 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 regula-
tions as may be made in the discretion of said County Com-
missioners; 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
to the highest responsible bidder or bidders therefor, for cash,
if the prices bid are adequate in the judgment of said County
Commissioners, 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 proportion; 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 at a private sale, upon the best
terms they can obtain for the same; provided, however, that
said bonds shall not be sold at private sale for less than one
per centum (1%) below par and accrued interest, and pro-
vided, further, that said County Commissioners, in their dis-
cretion, shall have the right to reject any and all bids.