WM. PRESTON LANE, JR., GOVERNOR. 1221

for bonds or Certificates of Indebtedness issued under the
provisions of this Act, under such regulations as may be
made in the discretion of the Governor, Comptroller of the
Treasury and Treasurer, or a majority of them; and
accrued interest between the date of the bonds or Certifi-
cates of Indebtedness and the time of sale and delivery
of and payments for said bonds or Certificates of Indebted-
ness shall be adjusted with the purchaser thereof under
such regulations as may be made in the discretion of the
Governor, Comptroller of the Treasury or Treasurer, or
a majority of them; 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-
nated in said advertisements; and on the opening of such
sealed proposals, as many of said bonds or Certificates of
Indebtedness as have been so bid for shall be awarded by
the Governor, Comptroller of the Treasury and Treasurer,
or a majority of them, to the highest responsible bidder
or bidders therefor for cash, if the prices bid are adequate,
in the judgment of the Governor, Comptroller of the Treas-
ury and the Treasurer, or a majority of them, 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 bidder 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 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. 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 pro-
ceeds of the sale of said bonds or Certificates of Indebted-
ness, 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