Ch. 238                             MARVIN MANDEL, Governor                                  609

thereof under such procedures as may be determined in the discretion of the Board
of Public Works; and upon the day mentioned in said advertisement as the date for
opening the bids, they shall receive such sealed proposals for the purchase of as
many of such bonds as may be mentioned or designated in said advertisement; and
on the opening of such sealed proposals, as many of said bonds as have been so
bid for shall be awarded by the Board of Public Works to the responsible bidder or
bidders therefor for cash offering the lowest net interest cost to the State, and if
two or more responsible bidders have made bids resulting in the same lowest net
interest cost to the State, then said bonds shall be awarded by lot to one of such
responsible bidders. If no bid is received, or if the Board of Public Works in the
exercise of its discretion determines that no bid is satisfactory and that it is in the
best interests of the State that all bids be rejected, the Board may reject all bids
and may thereafter negotiate the sale of any part or all of said bonds at a private
sale upon the best terms as to price, rates of interest and dates of payment within
the limits of Article III, Section 34 of the Constitution of Maryland that can be
obtained for the same.

SECTION 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 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.

SECTION 5. AND BE IT FURTHER ENACTED, That the actual cash
proceeds of the sale of the bonds 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, immediately upon the sale of and payment for said bonds,
first, shall return to and credit the Treasury for a sum equivalent to the amount
expended under 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, and as further provided in this Act, for the purpose of
aiding in the construction of a Medical Center for the John L. Deaton Medical
Center, Incorporated.

SECTION 6. AND BE IT FURTHER ENACTED, That all funds which may
be appropriated at any time or from time to time by the General Assembly in any
Annual State Budget Bill for the payment of principal and interest on bonds issued
pursuant to this Act shall be deposited in the Annuity Bond Fund by the State
Comptroller to be applied to the payment of principal and interest on bonds issued
pursuant to this Act.

SECTION 7. AND BE IT FURTHER ENACTED, That the payment of any
funds under the provisions of this Act for the purpose of aiding in the construction
of a Medical Center for the John L. Deaton Medical Center, Incorporated, shall
be contingent upon the provision by the John L. Deaton Medical Center,
Incorporated, of at least an equal and matching fund for this project from private
and other public sources. The said John L. Deaton Medical Center, Incorporated,
shall have until June 1, 1975, to present evidence satisfactory to the Board of
Public Works that it has raised at least this equal and matching fund for the
purpose of aiding in the construction of a Medical Center for the John L. Deaton
Medical Center, Incorporated, and that a site for the Medical Center which is
mutually suitable to the Board of Public Works and to the John L. Deaton