J. MILLARD TAWES, Governor                       489

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 Five Hundred and forty-five thousand
Dollars ($545,000.00), as evidence of such loan; such Certificates of
Indebtedness shall bear date as of the time of their issue as provided
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 Certificate of Indebtedness,
or any part thereof, shall be issued, in two newspapers 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 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 Cer-
tificates 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 Indebtedness as have been so bid for
shall be awarded by the Board of Public Works, to the highest re-
sponsible 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 pro-
portion; 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 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 Cer-
tificates of Indebtedness, for the payment of the expense of engrav-
ing, 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.