J. MILLARD TAWES, Governor 493
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, printing
and other outlays connected with the issue of the loan hereby au-
thorized 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 the 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 ex-
pended 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 expansion of the Walters Art Gallery in Baltimore City.
Sec. 6. And be it further enacted, That the payment of any funds
under the provisions of this Act for the purpose of aiding in the
expansion of the Walters Art Gallery in Baltimore City, shall be
contingent upon the provision by the Mayor and City Council of
Baltimore of the sum of one million dollars ($1,000,000.00) for this
purpose and upon the provision by the said Walters Art Gallery of
the sum of two million dollars ($2,000,000.00) from other sources for
this purpose. The said Walters Art Gallery shall have until July 1,
1968, to present evidence satisfactory to the Board of Public Works
that the Mayor and City Council of Baltimore has provided one
million dollars ($1,000,000.00) and that the said Walters Art Gallery
has provided the sum of two million dollars ($2,000,000.00) from
other sources for the purpose of aiding in the expansion of the said
Walters Art Gallery. Upon receiving from the Board of Public Works
a certification of such suitable evidence on or before July 1, 1968,
the Treasurer of the State is hereby authorized, empowered and di-
rected to proceed to spend the proceeds of said loan agreeably to the
other provisions of this Act. If such satisfactory evidence of the pro-
viding of one million dollars ($1,000,000.00) by the Mayor and City
Council of Baltimore and the providing of two million dollars
($2,000,000.00) by the said Walters Art Gallery from other sources
for this project is not presented to the Board of Public Works on or
before July 1, 1968, no funds under the provisions of this Act shall
|
|