Theodore R. McKeldin, Governor                   293

Works in its discretion may determine, that the Treasurer of this
State will be in readiness at a time within twenty (20) days after
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 provisions 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 ad-
justed 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 advertise-
ments; 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 in-
sufficient 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 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 Comp-
troller out of the proceeds of the sale of said bonds or Certificates
of Indebtedness, for the payment of the expense of engraving, print-
ing and other outlays connected with the issue of the loan hereby
authorized, and for the payment of the advertising directed by this
Act, and all other incidental expenses 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 purposes, 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 ex-
pended as needed by the State, upon approval by the Board of Public
Works, for the construction of an auditorium on the campus of St.
John's College in the City of Annapolis.

Sec. 6. And be it further enacted. That the payment of any funds
under the provisions of this Act toward the cost of construction of