1118                             LAWS OF MARYLAND                        CH. 585

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 Two Hundred and Fifty Thousand Dol-
lars ($250,000), as evidence of such loan; such Certificates of In-
debtedness 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
under the provisions of this Act, the Board of Public Works is
hereby directed to advertise once before the said Certificates of In-
debtedness 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 advertisement; and on the opening of such
sealed proposals, as many of said bonds or Certificates of Indebted-
ness 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 Indebted-
ness shall be awarded to such responsible bidders bidding the same
price in a ratable proportion; PUBLIC WORKS, AND WHEN TWO
OR MORE RESPONSIBLE BIDDERS HAVE MADE BIDS RE-
SULTING 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; 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,