THEODORE R. MCKELDIN, GOVERNOR 1809

sealed proposals, as many of said bonds or Certificates of
Indebtedness as have been so bid for shall be awarded by
the Board of Public Works, to the highest responsible
bidder or bidders 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 ratable 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 the sum of
Twenty-Five Thousand Dollars ($25, 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 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.

SEC. 5. And be it further enacted, That the actual cash
proceeds of the sale of the Certificates of Indebtedness to
be issued under this Act shall be paid to the Treasurer of
the State upon the warrant of the Comptroller and such
proceeds shall be used exclusively for the following pur-
poses, to wit:

The Comptroller shall immediately, upon the sale of and
payment for said certificates, first, return to and credit
the Treasury for a sum equivalent to the amount expended
as provided for in Section 4 of this Act; the remainder
of the proceeds of said loan shall be credited on the books
of the State Treasury Department, to be expended as
needed by the State, upon approval by the Board of Public
Works for the following needs, purposes and projects, the
amounts listed below being intended to include Architects'
and Engineers' fees where applicable: