10 LAWS OF MARYLAND. [CH. 4

is the highest and the certificates so bid for by the highest
bidders are in excess of the whole amount of the certificates
so offered for sale, such bonds or certificates of indebtedness
shall be awarded to such highest 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 in-
sufficient price be bid for them, they may be subsequently
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 private sale for less
than par and accrued interest.

SEC. 5. And by it further enacted, That the sum of Five
Thousand Dollars ($5,000), or so much thereof as may be
necessary, shall be paid by the Treasurer of this State upon
the warrant of the Comptroller out of the proceeds of the
sale of bonds or certificates of indebtedness for the payment
of the expenses of engraving, printing and other outlays
connected wth the issue of the loan hereby authorized, 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 used exclusively for the follow-
ing purposes, to wit:

The Comptroller shall immediately upon the sale and pay-
ment for said bonds or certificates of indebtedness, first re-
turn to and credit the Treasury with whatever advances or
payments may have been made 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 Department
to the credit of the State Military Department and shall be
disbursed by the State Treasurer, upon warrant of the Comp-
troller from time to time as and when the same shall become
necessary, to cover the cost of erecting armories first at Prince
Frederick, in Calvert County, at Oakland, in Garrett County,
at Ellicott City, in Howard County, at Leonardtown, in St.
Mary's County, and then at such other places within the
State as possible with moneys available from the proceeds
of this bond issue and from funds provided by the Federal
Government. All contracts for the work shall be subject to
the approval of the Board of Public Works. Any unexpended
balance of said proceeds shall revert to the State Treasury
and be used for retiring said bonds or paying the interest
thereon.

SEC. 7. And be it further enacted, That the State Military
Department is hereby empowered in its discretion to apply