646                             LAWS OF MARYLAND                     [CH. 197

hereby directed to advertise once before the said Certificates of
Indebtedness, or any part thereof, 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 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 discre-
tion 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 PAYMENT 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 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 Certifi-
cates 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 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 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 the incidental expenses connected
with the execution of its provisions in connection with said loan.

Sec. 5. And be it further enacted, That the actual 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, to wit:

1. The Comptroller shall