504                              Laws of Maryland                       [Ch. 373

the proposals thereby called for, they will receive such sealed pro-
posals for the purchase of as many of such bonds or certificates of
indebtedness as are 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 are 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 judg-
ment of the Board of Public Works, and when two or more bidders
make 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 are 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 are not
sold at private sale for less than par and accrued interest.

Sec. 4. And be it further enacted, That the sum of Twenty Thou-
sand Dollars ($20,000), or so much thereof as may be necessary, is
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, print-
ing and other outlays connected with the issue of the loan here
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 the actual cash proceeds
from the sale of certificates of indebtedness to be issued under this
act are paid to the Treasurer of the State upon the warrant of the
Comptroller, and such proceeds are used exclusively for the follow-
ing purposes:

1.    The Comptroller immediately upon the sale and the payment
for said certificates, first, returns to and credits to the treasury for
a sum equivalent to the amount expended, as provided in Section 4
of this act.

2.    The remainder of the proceeds of said loan are credited on the
books of the State Treasury Department to be expended to supple-
ment the financing of the construction of public junior college build-
ings and facilities, and to supplement the cost of the acquisition of
such real estate as may be required in connection therewith by each
of the counties in this State, and by the Mayor and City Council of
Baltimore upon the following terms and conditions:

(a)   Whenever any one or more counties or Baltimore City desires
to participate in the financial assistance which is provided for under
the terms and conditions of this act, the county commissioners,
county council, or the Mayor and City Council of Baltimore, thereof
shall file a petition with the State Board of Education, with such
information as the State Board of Education shall require, together
with complete plans for each project for which financial assistance
is desired.

(b)   Upon receipt of the petition, the State Board of Education
shall make a written finding of fact addressed to the Board of Public