728                             LAWS OF MARYLAND                       CH. 448

of Indebtedness and the time of sale and delivery of and payments
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 men-
tioned in said advertisements as the day for opening the bids for
the proposals thereby called for, they shall receive such sealed pro-
posals for the purchase of as many of such bonds or Certificates of
Indebtedness as may be mentioned or designated in said advertise-
ments; and on the opening of such sealed bids, as many of such
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 or certificates shall be awarded by lot to one of such respon-
sible 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 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 Certificates 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 advertis-
ing 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 pay-
ment for said certificates, first, return to and credit to the Treasury
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 and shall be paid
out from time to time upon the orders of the State Roads Commis-
sion, upon the warrants of the State Comptroller, in accordance with
the provisions of the subheading "Right of Way Revolving Fund",
in the subtitle "Expenditure of Commission's Funds and Program-
ming and Scheduling of Highway Projects," in Article 89-B of the
Annotated Code of Maryland, for the acquisition by the State Roads
Commission of rights of way for future State Highway projects.
For the purposes of these expenditures, the provisions and require-
ments of said subheading are incorporated in and made a part of
this section by reference.

Sec. 6. And be it further enacted, Until all of the interest on and
principal of any certificates issued under the bond issue known as