906                              LAWS OF MARYLAND                      [CH. 651

Sec. 2. And be it further enacted, That the Board of Public
Works is hereby authorized and directed to have prepared proper
Certificates of Indebtedness of the State in good and sufficient form
to aggregate the amount of Seven Million Five Hundred Thousand
Dollars ($7,500,000.00) as evidence of such loan; such Certificates
of Indebtedness shall bear date as of the time of their issue as pro-
vided in Section 1 of this Act. Each of said Certificates shall be
signed and 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 Indebted-
ness, or any part thereof, shall be issued, in two newspapers pub-
lished 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 the 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 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 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 Twenty-five
Thousand Dollars ($25,000), 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 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.