Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1922-07-22
PUBLIC GENERAL LAWS


in said advertisement as the day for
opening the bids or the proposals
thereby called for they shall receive
such sealed proposals for the pur-
chase of as many of such bonds or
certificates of Indebtedness as may
be mentioned or designated in said
advertisements; and on the opening
of such sealed proposals, as many of
said bonds or certificates of indebt-
edness as have been SO bid for shall
be awarded by the 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, Comp
troller of the Treasury and Treas
urer, 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 responsible
1 bidders are in excess of the whole
amount of the certificates so offered
for sale, such bonds or certificates
of Indebtedness shall be awarded to
such highest responsible bidders
bidding the same price in ratable
proportion; and if any of said GER
tifcates so offered for sale are not
bid for, or if any insufficient price
be bid for them, they may be sub
Isequently disposed of under the di-
rection of the Governor, Comptroller
OF the Treasury and Treasurer, or a
majority of them, at private sale
upon the best terms they can obtain
for the same; provided they shall
not be sold for less than par and
accrued interest.
SEC. Z. And be it further enacted,
That the sum of ten thousand dol
lars $50, 000.0O) or so much there
of as may be necessary, shall be paid
by the Treasurer of this State upon
the warrant of the Comptroller out
of the proceeds of the sale of bonds
or certificates of Indebtedness, for
the payment of the expense of en-
craving, printing and other OUTLAWS
connected with the issue of the loan
hereby authorized and for the pay
ment of the advertising directed by
this Act, and all other incidental ex-
penses in connection with the execu-
ton of its provisions pertaining to
said loan.
SEC. s. And be it further enacted,
That the actual cash proceeds of the
sale Of the certificates of indebted
ness to be issued under this Act
shall be paid to the Treasurer of
the State, and such proceeds shall
be used exclusively for the follow
ing purposes, to wit: The Comp
troller shall Immediately upon the
sale of and payment for said bonds
or certificates OF Indebtedness first
return to and credit the Treasury
for whatever advances or payments
may have been made as provided for
by Section of this Act. The re-
mainder of the proceeds of said loan
shall be turned over or credited to
the State Roads Commission, and by
it used, expended ard applied in &C
cordance with the provisions of this
Act for the acquisition by purchase.
condemnation or otherwise of the
bridge across the Susquehanna River
between Havre de Grace, in Har-
ford County, and Perryville, Cecil
County, together with all land,
roads, approaches, rights, franchises
and easements belonging to any per-
sui VI COIpOIdllOl anu uCCGSSdIy OI
convenient for the purposes speci-
fed in Section 48 of Article 81 of
the Annotated Code of Maryland.
Any unexpended balance which may
remain shall be credited to the re-
tirement fund for said Loan.
Sec. 9. And be it further enacted,
That for the purpose of raising sufIi-
Gent funds to pay the interest on
the said bonds or certificates of IN
debtedness, and to assist in retiring
the principal of said loan, the State
of Maryland pledges the full faith
and credit and for these and the fur
Their purpose of maintaining said
bridge, and appurtenances thereto,
the State Roads Commission shall
upon it's acquisition charge such
tolls to the users of said bridge for
vehicular traffic to be fixed by the
State Poadc Commission nf Marv