SPIRO T. AGNEW, Governor                      1407

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
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 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 following purposes:

1.    The Comptroller shall immediately upon the sale and payment
for said Certificates, first, return to and credit to the Treasury for a
sum equivalent to the amount expended, as provided in Section 4
of this Act.

2.    The remainder of the proceeds of said loan shall be credited
on the books of the State Treasury Department STATE COMP-
TROLLER to be expended to supplement the financing of the con-
struction of public school buildings and public school facilities, and
to supplement the cost of the acquisition of such real estate as may
be required in connection therewith by each of the counties in this
State and by the Mayor and City Council of Baltimore. Such financial
assistance shall be granted for the purposes stated hereinabove to
each of the counties in this State and to the Mayor and City Council
of Baltimore upon the following terms and conditions:

(a)   Whenever any county or the City of Baltimore desires to
participate in the financial assistance which is provided for under
the terms and conditions of this Act, said county or city, as the case
may be, shall certify a statement to the State Board of Education
showing: (1) the number, class, type and character of all public
school buildings or public school facilities required by the said
county or the said city for which funds are currently unavailable;
(2) the amount, type and character of real estate necessary in con-
junction therewith; (3) the total estimated cost of said school
buildings, school facilities and real estate; (4) the total issued and
outstanding bonded indebtedness of said county or city; (5) the
total assessable taxable basis of said county or city as determined
on the last preceding date of finality; and (6) such other informa-
tion as may be required by regulations passed by the State Board of
Education.

(b)   Upon receipt of the certified statement as specified in sub-
paragraph (a) of this subsection, the State Board of Education shall
make a written finding of fact which shall be addressed to the Board
of Public Works, said finding of fact to be in the form of a recom-
mendation to the Board of Public Works, advising said Board which
of the requests for financial assistance made by any of the counties
or made by the City of Baltimore, as aforesaid, should be allowed and