1134                           Laws of Maryland                     [ch. 444

tions 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 desig-
nated in said advertisements; and on the opening of such sealed
proposals, as many of said 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 m 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 ob-
tain 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 advertising
directed by this Act, and all the OTHER incidental expenses con-
nected with the execution of its provisions in connection with said
loan.

Sec. 5. And be it further enacted, That the actual CASH pro-
ceeds 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 exclu-
sively for the following purposes, to wit:

The Comptroller shall immediately upon the sale of and payment
for said certificates, first return to and credit the Treasury for a
sum equivalent to the amount expended as provided for in Section 4
of this Act; the remainder of the proceeds of said loan shall be
credited on the books of the State Treasury Department COMP-
TROLLER to be expended upon approval by the Board of Public
Works to provide the State's share of the cost of certain eligible
shore erosion control projects for fiscal year 1970, in accordance
with the provisions of Article 66C, Annotated Code of Maryland
(1967 Replacement Volume, as amended), Section 758. The said
projects are Nos. 1-70 through 43-70 on file in the Annapolis Office
of the Maryland Department of Chesapeake Bay Affairs. Any

project to be included in the application of this Act shall be ap-
proved by the Department of Chesapeake Bay Affairs; and in each
instance the particular unit of local government shall agree that it
will defray and be responsible for a fifty per centum (50%) share
in the total cost of the project, using funds for this purpose other
than funds of the State of Maryland, and these funds shall be avail-
able before the project is undertaken. BEFORE ANY PROJECT IS
UNDERTAKEN, THE POLITICAL SUBDIVISION IN WHICH
THE PROJECT IS TO BE CONSTRUCTED SHALL OFFER
WRITTEN ASSURANCE THAT FUNDS ARE AVAILABLE TO