J. MILLARD TAWES, Governor                      873

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 advertisements
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 Indebtedness 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 mentioned 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 Indebtedness 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 Indebted-
ness 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 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 Certifi-
cates 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 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, print-
ing 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
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
expended as needed by the State, upon approval by the Board of
Public Works, and as further provided in this Act, for the purpose
of aiding in the construction of an addition to the library on the
campus of St. John's College in Annapolis.