SPIRO T. AGNEW, Governor                        1137

piration 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 the various State En-
abling Acts authorizing the respective "State and Local Facilities
Loan," 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 in-
debtedness 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 Pub-
lic 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 provided they shall not be sold at pri-
vate sale for less than par and accrued interest.

(f)  The provisions of this Section are permissive only, and the
decision as to the consolidation of State Loans or installments there-
of, shall be made in the discretion of the Board of Public Works.
Any such decision shall be made by a majority of the Board of Pub-
lic Works.

(g)  All proceeds derived from the sale of the "State and Local
Facilities Loan" shall be applied only in the manner and for the
purposes designated in the respective Enabling Acts authorizing the
issuance of the certificates included in said Loan, and the proceeds
shall be credited proportionately to the account of the appropriate
State Loan. Premiums and interest received and expenses of sale
incurred shall be credited, deducted and charged, respectively, to the
individual loans in proportion to their respective principal amounts
as authorized by the Board to be consolidated.

(h) The provisions of this Section, to the extent employed by the
Board of Public Works, are intended to and shall supersede any in-
consistent provision contained in any State Enabling Act, but only
with respect to the portion of the loan authorized by such Enabling
Act, which is included by the Board of Public Works in the "State
and Local Facilities Loan" then being authorized. Nothing contained
in this Section shall be deemed to amend any such Enabling Act, ex-
cept with respect to the manner of issuance and sale of the Certifi-
cates of Indebtedness as set forth herein.

(i) The sources of payment for each "State and Local Facilities
Loan" shall be as provided in each of the respective Enabling Acts
for each of the State Loans or installments thereof comprising the
particular "State and Local Facilities Loan." Nothing herein con-