824                               Laws of Maryland                        [Ch. 499

SHALL ADVERTISE ONCE A WEEK FOR NOT LESS THAN
TWO SUCCESSIVE WEEKS IN ONE OR MORE NEWSPAPERS
PUBLISHED AND HAVING A GENERAL CIRCULATION IN
CAROLINE 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 REGULATIONS 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 BE-
TWEEN 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 CAROLINE COUNTY SHALL RECEIVE
SUCH SEALED PROPOSALS FOR THE PURCHASE 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 CARO-
LINE 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 COM-
MISSIONERS, THE SAID COUNTY COMMISSIONERS MAY
REJECT ANY OR ALL BIDS FOR SAID BONDS. ALL PAY-
MENTS OF THE PURCHASE PRICE OF SAID BONDS SHALL
BE MADE TO THE COUNTY TREASURER OF CAROLINE
COUNTY.

SEC. 6. AND BE IT FURTHER ENACTED, THAT OUT OF
THE ACTUAL CASH PROCEEDS FROM THE SALE OF ANY
OF SAID BONDS SHALL BE PAID FIRST THE COST OF
PRINTING AND OTHER OUTLAYS AND EXPENSES AND
CHARGES CONNECTED WITH THE ISSUE OF THE SAME,
AND THE ENTIRE BALANCE OF SAID ACTUAL CASH PRO-
CEEDS, TOGETHER WITH ANY INTEREST THAT MAY BE
RECEIVED ON THE SAME, SHALL BE RETAINED BY THE
COUNTY TREASURER OF CAROLINE COUNTY UNTIL
NEEDED FOR THE PURPOSE OF BUILDING NEW SCHOOL-
HOUSES, THE CONSTRUCTION OF ADDITIONS TO EXISTING
SCHOOLHOUSES, OR ALTERING OR REPAIRING THE SAME,
AND FOR EQUIPPING SUCH NEW OR EXISTING SCHOOL-