MARVIN MANDEL, Governor                        991

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 payment for said bonds or Certificates of Indebted-
ness shall be adjusted with the purchaser thereof under such regula-
tions as may be made in the discretion of the Board of Public Works;
and upon the day mentioned in said advertisement as the date for
opening the bids for the proposals thereby called for they shall re-
ceive such sealed proposals for the purchase of as many of such bonds
or Certificates of Indebtedness as may be mentioned or designated
in said advertisement; 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
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 re-
sponsible 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 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
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 immediately upon the sale of and pay-
ment for said certificates, first, return to and credit the Treasury
for a sum equivalent to the amount expended, as provided in Section
4 of this Act.

2.   The remainder of the proceeds of such loan shall be credited
on the books of the State Comptroller, to be expended as needed by
the State, upon approval by the Board of Public Works, for the fol-
lowing needs, purposes and projects, and amounts listed below being
intended to include Architects' and Engineers' fees where applicable:

GENERAL CONSTRUCTION LOAN OF 1969

(A) Board of Public Works:

(1) Acquisition of land required for