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Session Laws, 1927
Volume 569, Page 1136   View pdf image (33K)
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1136 LAWS OF MARYLAND. [CH. 557

and sell a series of said bonds as provided for in Section 2
hereof, the said Board of County Commissioners is hereby
authorized and empowered to borrow upon the faith and credit
of said county such sum or sums of money as shall be sufficient
and necessary to meet and pay the contract price for the con-
struction or permanent improvement of said public county
roads, and to issue certificates of indebtedness for said sum or
sums so borrowed, and shall pay said certificates of indebted-
ness out of the proceeds of the sale of the first series of bonds
issued therefor.

SEC. 10. And be it further enacted, That in order to provide
for the selling of said bonds, to be issued under the provisions
of this Act, the said County Commissioners or a majority of

them are hereby directed to advertise for at least once a week

for four successive weeks before said bonds or any part thereof
shall be issued, in such newspapers printed and published in
Carroll County or elsewhere, as may be determined by said
County Commissioners, that the said County Commissioners
will be in readiness at any time within fifteen days after the
expiration of said notice to receive bids at such place or places
as may be named in said respective advertisements for bonds
issued under the provisions of this Act, under such regulations
as may be made in the discretion of said County Commissioners
or the majority of them; and the accrued interest between the
date of the bonds and the time of sale and the delivery of any
payment for said bonds shall be adjusted with the purchaser
thereof under such regulations as may be made in the discretion
of the said Board of County Commissioners or a majority of
them; 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 as may be mentioned or designated in
said advertisements; and on the opening of such sealed pro-
posals, as many of said bonds as have been bid for shall be
awarded by the said Board of County Commissioners or a
majority of them, to the highest responsible bidder or bidders
therefor for cash, at not less than the par value of said bonds;
and when two or more bidders have made the same bid, and
such bid is the highest and the bonds so bid for by the highest
responsible bidders are in excess of the whole amount of the
bonds so offered for sale, such bonds shall be awarded to such
highest responsible bidders bidding the same price in a ratable
proportion; and if any of the said bonds so offered for sale are

 

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Session Laws, 1927
Volume 569, Page 1136   View pdf image (33K)
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