12                               LAWS OF MARYLAND                         [CH. 5

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 Forty One Million Nine Hundred Sixty One Thousand
and Six Hundred Dollars ($41,961,600) FORTY SEVEN MILLION
SIX HUNDRED AND TWENTY SIX THOUSAND TWO HUN-
DRED DOLLARS ($47,626,200) FORTY-EIGHT MILLION NINE
HUNDRED THOUSAND SEVEN HUNDRED DOLLARS ($48,900,-
700), 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 un-
der the provisions of this Act, the Board of Public Works is hereby
directed to advertise once before the said Certificates 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 the
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
payment 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 date 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 Certificates of
Indebtedness as may be mentioned or designated in said advertise-
ment; 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
responsible bidders have made bids resulting in the same net interest
cost to the State and such bids are the highest, then such Bonds shall
be awarded by lot to one of such responsible bidders 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 PRO-
VIDED 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