840                              LAWS OF MARYLAND                      [CH. 504

such bonds or Certificates of Indebtedness as may be mentioned or
designated in said advertisement; 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 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 propor-
tion; or if any insufficient price be bid for them, they may be subse-
quently 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 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 neces-
sary, 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 Indebtedness for the payment of the expense of en-
graving, 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.

Sec. 5. And be it further enacted, That (A) The actual cash pro-
ceeds 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 ex-
clusively for the following purposes, to wit:

(B) The Comptroller shall immediately upon the sale of and pay-
ment for said certificates, first, return to and credit the Treasury for
a sum equivalent to the amount expended, as provided 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, for the following needs, purposes and projects, and amounts
listed below being intended to include Architects' and Engineers'
fees where applicable:

GENERAL CONSTRUCTION LOAN OF 1966
(B-l) BOARD OF PUBLIC WORKS:

(A) TO SUPPLEMENT THE APPROPRI-
ATION FOR "CONSTRUCTION OF
BULKHEAD AT CHESAPEAKE
BEACH" AS SHOWN ON PAGE 1104
OF THE ACTS OF 1965; SECTION
8 OF CHAPTER 743 OF THE ACTS OF
1965 BEING HEREBY REPEALED
TO THE EXTENT THAT SAID WORK
MAY BEGIN UPON SATISFACTORY
ASSURANCES TO THE BOARD OF