WM. PRESTON LANE, JR., GOVERNOR. 5

certificates evidencing a part of said loan issued at a particu-
lar time, as the case may be.

SEC. 2. And be it further enacted, That the Governor,
Comptroller of the Treasury and the Treasurer of the State,
constituting the Board of Public Works, or a majority of
them, are hereby authorized and directed to have prepared
proper Certificates of Indebtedness of the State in good and
sufficient form to aggregate the amount of Fifty Million
Dollars ($50,000,000.00), as evidence of such loan; such
Certificates of Indebtedness shall bear date as of the time of
their issue as provided in Section 1 of this Act. Each of
said Certificates shall be signed by the Treasurer of the
State and countersigned by the Comptroller of the Treasury.

SEC. 3. And be it further enacted, That in order to provide
for the selling of the Certificates of Indebtedness aforesaid,
to be issued under the provisions of this Act, the Governor,
Comptroller of the Treasury and the Treasurer of this State,
or a majority of them, are hereby directed to advertise twice
a week for two successive weeks before the said Certificates
of Indebtedness, or any part thereof, shall be issued, in two
newspapers published in the City of Baltimore, that the
Treasurer of this State will be in readiness at a time within
fifteen (15) days after the expiration of said notice to re-
ceive bids at such place or places as may be named in said
respective advertisements for bonds or Certificates of In-
debtedness issued under the provisions of this Act, under
such regulations as may be made in the discretion of the
Governor, Comptroller of the Treasury and Treasurer, or a
majority of them; and accrued interest between the date of
the bonds or Certificates of Indebtedness and the time of
sale and delivery of and payments for said bonds or Cer-
tificates of Indebtedness shall be adjusted with the purchaser
thereof under such regulations as may be made in the dis-
cretion of the Governor, Comptroller of the Treasury and
Treasurer, or a majority of them; and upon the day men-
tioned 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 desig-
nated in said advertisements; 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 Governor, Comptroller of the Treasury and Treasurer,
or a majority of them, to the highest responsible bidder or
bidders therefor for cash, if the prices bid are adequate, in
the judgment of the Governor, Comptroller of the Treasury
and Treasurer, or a majority of them, and when two or
more bidders have made the same bid, and such bid is the
highest and the Certificates so bid for by the highest respon-