HERBERT R. O. CONOR, GOVERNOR. 215

thereof shall be issued, in such newspapers as may be deter-
mined by the said Board, that the said Board of County
Commissioners will be in readiness at a certain time to be
named in said notice, to receive bids at such place as may be
named in said advertisements, for bonds issued under the
provisions 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
regulations as may be made in the discretion of said County
Commissioners, and at 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 advertisement; and on the opening of such sealed pro-
posals, 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 the said County Com-
missioners, 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 direc-
tion of said County Commissioners, at a private sale, upon
the best terms they can obtain for the same; and provided
further that said County Commissioners, in their discretion,
shall have the right to reject any and all bids.

SEC. 4. And be it further enacted, That the actual proceeds
of the sale of said bonds if issued shall be used exclusively for
the following purposes, to wit: (a) The payment of the cost
of engraving or printing of said bonds, and for the payment
of the cost of advertising authorized by this Act and all
other incidental expenses in connection with the issuance of
said bonds.

(b) The remainder of the proceeds of the sale of said
bonds shall be used by the County Commissioners of Mont-
gomery County, and shall be used, expended and applied by
the said Board for the following purposes, to wit:

1. To pay over to the Maryland-National Capital Park
and Planning Commission the remainder of the proceeds of
the sale of said bonds or so much thereof as may be neces-