680                              Laws of Maryland                       [Ch. 491

Sec. 3. And be it further enacted, That all proceeds derived from
said loan shall be placed in a special fund by the County Treasurer
of Dorchester County and shall be paid out by him only on warrants
from the County Commissioners of Dorchester County, which war-
rants shall be issued only upon proper vouchers presented by the
Board of Education of Dorchester County, for the erection of new
school buildings, the purchasing of land for new school buildings,
payment of architect's and other professional fees in connection
therewith, alteration or repair of existing school buildings and
equipping of school buildings in Dorchester County, or for match-
ing Federal funds for such purposes.

Sec. 4. And be it further enacted, That for the purpose of paying
the interest on said notes, certificates of indebtedness and/or bonds
and for redeeming the same as they mature and become payable,
the County Commissioners of Dorchester County shall levy annually
a tax upon the assessable property of said Dorchester County suffi-
cient to pay the annual interest on said notes, certificates of indebted-
ness and/or bonds and to redeem the same as they become due, until
all of said notes, certificates of indebtedness and/or bonds shall
mature and be redeemed. The taxes so levied shall be collected in
the same manner as other taxes are levied and collected in said county.

Sec. 5. And be it further enacted, That, before proceeding to sell
any of said bonds at any time, the County Commissioners of Dor-
chester County shall advertise once a week for not less than two
successive weeks in one or more newspapers published and having
a general circulation in Dorchester County, and by such other ad-
vertisements as they shall think proper, that they will receive sealed
bids for the bonds described in said advertisement, under such regu-
lations as the County Commissioners by their order may pass, and
such advertisement shall designate the place where bids will be
received and shall set a time for doing so not later than fifteen days
after the date of the last publication of said advertisement. All
accrued interest between the date of said bonds and the time of
sale and delivery of any payment for said bonds shall be adjusted
with the purchasers thereof. Upon the day and at the time mentioned
in said advertisement for opening the bids, the County Commis-
sioners of Dorchester County shall receive such sealed proposals for
the purchase of such bonds as may be designated in the advertise-
ment. Upon the opening in public by the said County Commissioners
of such sealed proposals, as many of said bonds as may have been
so bid for shall be awarded by the County Commissioners of Dor-
chester County to the highest responsible bidder or bidders therefor,
for cash, at not less than par, if the prices are adequate in the judg-
ment of said County Commissioners; and when two or more bidders
have made the same bid and such bid is the highest and for the whole
amount of the bonds so offered for sale, or, taken together, in ex-
cess of said whole amount, such bonds shall be awarded to such
highest responsible bidders bidding the same price in a ratable pro-
portion; and if any of said bonds so offered for sale are not bid
for or if any insufficient price be bid for them, in the judgment of
the said County Commissioners, the said County Commissioners may
reject any or all bids for said bonds, and such bonds subsequently
may be disposed of under the direction of the County Commissioners
of Dorchester County at private sale, upon the best terms that can
be obtained for the same; provided that such bonds shall not be