THEODORE R. McKELDIN, GOVERNOR                    409

to aggregate the amount of

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NINE MILLION
ONE HUNDRED NINETY-FIVE THOUSAND SEVEN HUN-
DRED FIFTY DOLLARS ($9,195,750), as evidence of such
loan; such Certificates of Indebtedness shall bear date as of the
time of their issue as provided in Section 1 of this Act. Each of
said certificates shall be signed and countersigned in the manner
prescribed by Section 3 of Article VI of the Maryland Constitution.

SEC. 3. And be it further enacted, That in order to provide 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 Certificates of Indebtedness issued under the provi-
sions of this Act, under such regulations as may be made in the
discretion of the Board of Public Works; and the 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 Board of Public Works; 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 designated 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 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
responsible bidders 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 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 advertis-
ing directed by this Act, and all other incidental expenses connected
with the execution of its provisions in connection with said loan.