MARVIN MANDEL, Governor                                       1407

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.

(e)   Payment of expenses.—So much thereof as may
be necessary, shall be paid by the Treasurer of the
State upon the warrant of the Comptroller cut 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 section,
and all other incidental expenses, connected with the
execution of its provisions in connection with said
loan.

(f)    Disposition and use of cash proceeds of
loan. —The actual cash proceeds of the sale of
certificates of indebtedness to be issued under this
section 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 certificates, first, shall return
to and credit the treasury for a sum equivalent to the
amount expended, as provided in subsection (e) of this
section.

(2)   The remainder of the proceeds of such loan
shall be credited on the books of the State
Comptroller, to be expended exclusively for the
purpose of financing the costs of acquisition,
improvements or rehabilitation of land for, and the
acquisition, construction, reconstruction, extension
and improvement of facilities in connection with the
prevention, control and abatement of pollution of the
waters of this State from abandoned deep or strip
mines, including the prevention of drainage therefrom.
The proceeds of such loan may be expended for the