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Session Laws, 1960
Volume 641, Page 225   View pdf image (33K)
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J. MILLARD TAWES, GOVERNOR 225

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 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
engraving, 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 (A) The actual cash pro-
ceeds 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 exclu-
sively for the following purposes, to wit:

(B) The Comptroller shall immediately, upon the sale of and pay-
ment 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 expended 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 Engi-
neers' fees where applicable:

GENERAL CONSTRUCTION LOAN OF 1960

(C) Board of Public Works:

(1) Construction of Maintenance
Shop and paved approach, ad-
jacent to power house.............. 10, 000

(2) Air conditioning Treasury

Building Annex, Annapolis.... 25, 000

(3) STATE SHARE OF COST
OF CONSTRUCTION OF
FLOOD WALL AT KITZ-
MILLER, SUPPLEMENT-
ING PREVIOUS GENERAL
FUND APPROPRIATION
OF $15, 000.............................. 15, 000

(4) STATE SHARE OF COST
OF CONSTRUCTION OF
GARRETT COUNTY AIR-
8


 

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Session Laws, 1960
Volume 641, Page 225   View pdf image (33K)
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