1090                            LAWS OF MARYLAND                      [CH. 740

regulations as may be made in the discretion of the Board of Public
Works; and the accrued interest between the date of the bond or
certificates of indebtedness and the time of sale and delivery of and
payments for said bonds or certificates of indebtedness is 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 day for opening the bids
for the proposals thereby called for, they will receive such sealed
proposals for the purchase of as many of such bonds or certificates
of indebtedness as are mentioned or designated in said advertisement;
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 therefore for cash, if the prices bid are adequate, in the
judgment 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
Thousand 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 following
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 area vocational school
buildings, AND THE PURCHASE OF INITIAL AND PERMA-
NENT EQUIPMENT, 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