J. MILLARD TAWES, Governor                      975

countersigned in the manner prescribed by Section 3 of Article
VI of the Maryland Constitution.

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
Indebtedness, or any part thereof, shall be issued, in two news-
papers published 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 advertise-
ments 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 Indebted-
ness 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 men-
tioned in said advertisement as the day 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 Indebt-
edness 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 proportion;
or if any insufficient price be bid for them, they may be subse-
quently 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 Thou-
sand 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
Comptroller out of the proceeds of the sale of said bonds or Certifi-
cates 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 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