1120                           LAWS OF MARYLAND                     [CH. 440

form to aggregate the amount of Five Million Dollars ($5,000,000)
THREE MILLION DOLLARS ($3,000,000.00) as evidence of such
loan; such Certificates of Indebtedness are dated SHALL BEAR
DATE as of the time of their issue as provided in Section 1 of this
Act. Each of said certificates is SHALL BE signed and counter-
signed 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
Indebtedness, or any part thereof, are 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 determines,
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 are 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 Indebtedness is
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 DATE for opening the bids for the proposals thereby called for,
they will SHALL receive such sealed proposals for the purchase of
as many of such bonds or Certificates of Indebtedness as are MAY
BE mentioned or designated in said advertisements; 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 are
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; provided they are not 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, is 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 here HEREBY authorized, and for the payment of the
advertising 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

from the sale of OF THE SALE OF THE Certificates of Indebted-