Theodore R. McKeldin, Governor                    49

State of Maryland and by the counties and municipalities of said
state.

Sec. 3. And be it further enacted, That all proceeds derived from
said loan shall be placed in a special fund by the County Treasurer
of Dorchester County and shall be paid out by him only on warrants
from the County Commissioners of Dorchester County, which war-
rants shall be issued only upon proper vouchers presented by the
Board of Education of Dorchester County, for the erection of new
school buildings, the purchasing of land for new school buildings,
payment of architect's and other professional fees in connection there-
with, alteration or repair of existing school buildings and equipping
of school buildings in Dorchester County, or for matching Federal
funds for such purposes.

Sec. 4. And be it further enacted, That for the purpose of paying
the interest on said notes, certificates of indebtedness and/or bonds,
and for redeeming the same as they mature and become payable, the
County Commissioners of Dorchester County shall levy annually a
tax upon the assessable property of said Dorchester County sufficient
to pay the annual interest on said notes, certificates of indebtedness
and/or bonds and to redeem the same as they become due, until all
of said notes, certificates of indebtedness and/or bonds shall mature
and be redeemed. The taxes so levied shall be collected in the same
manner as other taxes are levied and collected in said county.

Sec. 5. And be it further enacted, That, before proceeding to sell
any of said bonds at any time, the County Commissioners of Dor-
chester County shall advertise once a week for not less than two
successive weeks in one or more newspapers published and having a
general circulation in Dorchester County, and by such other advertise-
ments as they shall think proper, that they will receive sealed bids
for the bonds described in said advertisement, under such regula-
tions as the County Commissioners by their order may pass, and such
advertisement shall designate the place where bids will be received
and shall set a time for doing so not later than fifteen days after
the date of the last publication of said advertisement. All accrued
interest between the date of said bonds and the time of sale and
delivery of any payment for said bonds shall be adjusted with the
purchasers thereof. Upon the day and at the time mentioned in said
advertisement for opening the bids, the County Commissioners of
Dorchester County shall receive such sealed proposals for the pur-
chase of such bonds as may be designated in the advertisement.
Upon the opening in public by the said County Commissioners of such
sealed proposals, as many of said bonds as may have been so bid for
shall be awarded by the County Commissioners of Dorchester County
to the highest responsible bidder or bidders therefor, for cash, at not
less than par, if the prices are adequate in the judgment of said
County Commissioners; and when two or more bidders have made
the same bid and such bid is the highest and for the whole amount of
the bonds so offered for sale, or, taken together, in excess of said
whole amount, such bonds shall be awarded to such highest responsible
bidders bidding the same price in a ratable proportion; and if any of
said bonds so offered for sale are not bid for or if any insufficient
price be bid for them, in the judgment of the said County Commis-
sioners, the said County Commissioners may reject any or all bids