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Session Laws, 1958 (Special Session), House and Senate Journals
Volume 639, Page 35   View pdf image (33K)
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THEODORE R. MCKELDIN, GOVERNOR                     35

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 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 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 Certifi-
cates 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 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 neces-
sary, 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 en-
graving, printing 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 following needs, purposes and projects, and amounts
listed below being intended to include Architects' and Engineers'
fees where applicable:

GENERAL CONSTRUCTION LOAN FOR 1958
Board of Public Works:

The new Marsh Wholesale Produce Market Authority:

Organization expense and payment of costs and ex-
penses incurred by the authority in carrying out its
corporate purposes, including the preparation of
preliminary plans and specifications for the con-
struction of a new public wholesale produce market,

 

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Session Laws, 1958 (Special Session), House and Senate Journals
Volume 639, Page 35   View pdf image (33K)
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