WM. PRESTON LANE, JR., GOVERNOR 321

Public Works; and upon the day mentioned in said adver-
tisement as the day for opening the bids for the proposals
thereby called for, they shall receive such sealed proposals
for the purchase of as many of such bonds or Certificates
of Indebtedness as may be mentioned or designated in said
advertisements; and on the opening of such sealed pro-
posals, as many of said bonds or Certificates of Indebted-
ness as have been so bid for shall be awarded by the Board
of Public Works to the highest responsible bidder or
bidders therefor for cash, if the prices bid are adequate,
in the judgment of the Board of Public Works and when
two or more bidders have made the same bid, and such
bid is the highest and the Certificates so bid for by the
highest responsible bidders are in excess of the whole
amount of the Certificates offered for sale, such bonds or
Certificates of Indebtedness shall be awarded to such
responsible BIDDERS bidding the same price in a ratable
proportion; or if any insufficient price be bid for them,
they may be subsequently disposed of under the direction
of the Board of Public Works, 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. 4. And be it further enacted, That the sum of
Twenty Thousand Dollars ($20,000), 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
proceeds of the sale of said bonds or Certificates of Indebt-
edness, 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 advertising
directed by this Act, and all other incidental expenses con-
nected with the execution of its provisions in connection
with said loan.

SEC. 5. 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 pur-
poses, to wit:

The Comptroller shall immediately, upon the sale of
and payment for said certificates, first return to and credit
the Treasury for a sum equivalent to the amount expended
as provided for in Section 4 of this Act. The remainder
of the proceeds of said loan shall be credited on the books
of the State Treasury Department, to be expended as
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