320 LAWS OF MARYLAND [CH. 72

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 hereby
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 the 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 discre-
tion 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 delivery of and payments for said bonds or Certificates
of Indebtedness shall be adjusted with the purchaser thereof under
such regulations as may be made in the discretion of the Board of
Public Works; and upon the day mentioned in said advertisement
as the date 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 designated in said advertisements; and on the opening of such
sealed proposals, as many of said bonds or Certificates of Indebted-
ness 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 Indebted-
ness 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 di-
rected 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