1136 LAWS OF MARYLAND [CH. 609

tisements 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, Comp-
troller of the Treasury and Treasurer, or a majority of
them; and 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 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 Trea-
sury and 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 bid-
ders bidding the same price in a ratable proportion; or if
any insufficient price be bid for them, they may be subse-
quently 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
Thirty-five Thousand Dollars ($35, 000), or so much there-
of 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,
printing and other outlays connected with the issue of the
loan hereby authorized, and for the payment of the adver-
tising directed by this Act, and all other incidental ex-
penses connected with the execution of its provisions in
connection with said loan.