J. MILLARD TAWES, Governor 341

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 Ten Thousand
Dollars ($10, 000), 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
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 b e 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 construction of a new dormitory, a new classroom
building, and the modernization of the dining room on the campus
of Hood College in Frederick, Maryland.

SEC. 6. And be it further enacted. That the payment of any funds
under the provisions of this Act toward the cost of construction of
a new dormitory, AND a new classroom building

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on the campus of Hood College in Frederick,
Maryland, shall be contingent upon the provision by Hood College
of at least an equal and matching fund from other sources. The
said College shall have until January 1, 1964, to present evidence
satisfactory to the Board of Public Works that it has raised at least
this equal and matching fund toward the construction of a new
dormitory, AND a new classsroom building

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Upon receiving from the Board of Public Works a
certification of such suitable evidence on or before January 1, 1964,
the Treasurer of the State is hereby authorized, empowered and
directed to proceed to spend the proceeds of said loan agreeably to
the other provisions of this Act. If such satisfactory evidence of the
raising of at least an equal and matching fund is not present to the
Board of Public Works on or before January 1, 1964, no funds under
the provisions of this Act shall thereafter be paid over to or expended
for the construction of a new dormitory, AND a new classroom build-
ing

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on the campus of Hood
College in Frederick, Maryland.

SEC. 7. And be it further enacted, That until all of the interest on