J. MILLARD TAWES, Governor                     815

Indebtedness 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 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 Comptroller
out of the proceeds of the sale of said bonds or Certificates of Indebt-
edness, for the payment of the expense of engraving, 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 pro-
visions 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 follow-
ing 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 following purposes only:

1.    Acquiring the Naval Academy Athletic Association property
located in or near the City of Annapolis and bounded generally by
Roscoe Rowe Boulevard, the W. B. and A. Railroad, Taylor Avenue and
College Creek, containing approximately 23 acres, more or less IN
ACCORDANCE WITH, AND CONTINGENT UPON, THE PAS-
SAGE OF HOUSE BILL NO. 792 (CHAPTER........OF THE LAWS

OF MARYLAND, 1966);

2.    Acquiring the properties owned by the Calvary Methodist
Church located in the City of Annapolis and bounded generally by Col-
lege Avenue, North Street, State Circle and the Court of Appeals-
Building, and razing any improvements thereon; and

3.    Acquiring the property generally known as 87 College Avenue
in the City of Annapolis, and razing any improvements thereon.

Sec. 6. And be it further enacted, That until all of the interest
on and principal of any certificates issued under this Act have been
paid in full, there is hereby levied and imposed an annual State tax on