992                              LAWS OF MARYLAND                       CH. 536

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 One Hundred Twenty-five Thousand
Dollars ($125,000), as evidence of such loan; such Certificates of
Indebtedness shall bear date as of the time of their issue as pro-
vided 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 here-
by directed to advertise once before the said Certificates of Indebted-
ness, or any part thereof, shall be issued, in two newspapers pub-
lished 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 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 payments for said bonds or Certificates of Indebted-
ness shall be adjusted with the purchaser thereof under such regu-
lations as may be made in the discretion of the Board of Public
Works; and upon the day mentioned in said advertisement as the
day 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 advertisements; 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 Pub-
lic 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 In-
debtedness shall be awarded to such responsible bidders bidding the
same price in a ratable proportion; 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; 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 Five Thous-

sand Dollars ($5,000.00), 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,