1866 LAWS OF MARYLAND [CH. 626

SEC. 3. And be it further enacted, That in order to pro-
vide 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
once before the said Certificates of Indebtedness, or any
part thereof, shall be issued, in two newspapers published
in the City of Baltimore and in such other manner as the
Board of Public Works in its discretion may determine,
that the Treasurer of this State will be in readiness at a
time within twenty (20) 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 Cer-
tificates of Indebtedness issued under the provisions of
this Act, under such regulations as may be made in the dis-
cretion of the Board of Public Works; and the accrued in-
terest between the date of the bonds or Certificates of In-
debtedness and the time of sale and delivery of and pay-
ments for said bonds or Certificates of Indebtedness shall
be adjusted with the purchaser thereof under such regula-
tions as may be made in the discretion of the Board of
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 bid-
ders 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 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 re-
sponsible bidders bidding the same price in a rateable pro-
portion; 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 the¹ sum of Ten
Thousand Dollars ($10, 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 Indebtedness, for