746 LAWS OF MARYLAND. [CH. 308

livery of any payment for said bonds shall be adjusted
with the purchasers thereof. Upon the day and at the time
mentioned in said advertisement for opening the bids, The
County Commissioners of Dorchester County shall receive
such sealed proposals for the purchase of such bonds as
may be designated in the advertisement. Upon the opening
in public by the said County Commissioners of such sealed
proposals, as many of said bonds as may have been so bid
for shall be awarded by The County Commissioners of
Dorchester County to the highest responsible bidder or bid-
ders therefor, for cash, at not less than par, if the prices
are adequate in the judgment of said County Commission-
ers; and when two or more bidders have made the same
bid and such bid is the highest and for the whole amount of
the bonds so offered for sale, or, taken together, in excess
of said whole amount, such bonds shall be awarded to such
highest 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 any insufficient price be bid for
them, in the judgment of the said County Commissioners,
the said County Commissioners may reject any or all bids
for said bonds, and such bonds subsequently may be dis-
posed of under the direction of The County Commissioners
of Dorchester County at private sale, upon the best terms
that can be obtained for the same; provided that such
bonds shall not be sold at private sale for less than par and
accrued interest. All payments of the purchase price of
said bonds shall be made to the County Treasurer of Dor-
chester County.

SEC. 6. And be it further enacted, That out of the actual
cash proceeds from the sale of any of said bonds or from
said promissory notes or certificates of indebtedness, shall
be paid first the cost of printing and other outlays and ex-
penses and charges connected with the issue of the same,
and the entire balance of said actual cash proceeds, to-
gether with any interest that may be received on the same,
shall be retained by the County Treasurer of Dorchester
County until needed to pay for the purchase of land for and
the erection and construction, of new school buildings, pay-
ment of architect's and other professional fees in connec-
tion therewith, alteration, repair and equipping of School
Buildings in Dorchester County.

SEC. 7. And be it further enacted, That the County Com-
missioners of Dorchester County, for the purpose of re-
deeming said promissory notes, certificates of indebtedness
and/or bonds at their maturity, and for the purpose of
securing the prompt payment of interest thereon, shall