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Session Laws, 1950
Volume 587, Page 474   View pdf image (33K)
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474 LAWS OF MARYLAND [CH. 109

shall be signed by the Treasurer of the State and counter-
signed by the Comptroller of Treasury.

SEC. 3. And be it further enacted, That the construction as
set forth in this Act includes an estimate of the cost for each
project, and it is the intent of this Act that, to the extent that
the actual cost of any of the projects authorized to be under-
taken by this Act is known at the time of issuing any of the
bonds authorized by this Act, the Board of Public Works is
authorized and directed to issue bonds only to the amount
of such actual cost. If the actual cost of any of the projects
authorized to be undertaken by this Act is not known at the
time of issuing any of the bonds authorized by this Act, the
Board of Public Works is directed to issue bonds in the
amount of such cost authorized by this Act; provided, how-
ever, that if the Board of Public Works shall determine that
the estimated cost of said project is less than is herein au-
thorized, it shall issue bonds only in such lesser amount or
amounts; and further provided, that said cost shall not ex-
ceed the maximum amount set forth for each institution or
department; and provided further, that the total amount of
bonds authorized shall not exceed Three Million Eight
Hundred Seventy-two Thousand Seven Hundred Dollars
($3,872,700).

SEC. 4. And be it further enacted, That in order to provide
for the selling of the Certificates of Indebtedness aforesaid,
to be issued under the provisions of this Act, the Board of
Public Works, is hereby directed to advertise twice a week
for two successive weeks before the said Certificates of In-
debtedness, or any part thereof, shall be issued, in two news-
papers published in the City of Baltimore, that the Treasurer
of this State will be in readiness at a time within fifteen
(15) days after the expiration of said notice to receive bids
at such place or places as may be named in said respective
advertisements for bonds or Certificates of Indebtedness
issued under the provisions of this Act, under such regula-
tions as may be made in the discretion of the Board of Public
Works; and the accrued interest between the date of the
bonds or Certificates of Indebtedness and the time of sale
and delivery of and payments for said bonds or Certificates
of Indebtedness shall be adjusted with the purchaser thereof
under such regulations as may be made in the discretion of
the Board of Public Works; and upon the day mentioned in
said advertisement 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 desig-


 

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Session Laws, 1950
Volume 587, Page 474   View pdf image (33K)
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