J. MILLARD TAWES, GOVERNOR 283

SEC. 3. And be it further enacted, That in order to provide for
the selling of the Certificates of Indebtedness aforesaid, to be issued
under the provisions of this Act, the Board of Public Works is here-
by directed to advertise once before the said Certificates of Indebted-
ness, or any part thereof, shall be issued, in two newspapers pub-
lished in the City of Baltimore and in such other manner as the Board
of Public 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 de-
livery of and payments for said bonds or Certificates of Indebted-
ness shall be adjusted with the purchaser thereof under such regula-
tions 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 re-
ceive such sealed proposals for the purchase of as many of such bonds
or Certificates of Indebtedness as may be mentioned or designated
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 Certificates offered
for sale, such bonds or Certificates of Indebtedness shall be awarded
to such responsible bidders bidding the same price in a ratable pro-
portion; 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 f or 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 Five Thousand
Dollars ($5, 000. 00), 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, printing
and other outlays connected with the issue of the loan hereby author-
ized, 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