Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1922-07-22
PUBLIC GENERAL LAWS

published in the City OF Baltimore.
{ az the Treasurer OF this State Will
be in readiness at a time within fit.
teen days after the expiration of said
notice 10 receive bids at such place or
places as may be named in said re.
spectiye advertisements for bonds or
certificates OF Indebtedness issued un-
der the provisions of this Act. under
such regulations as may be- made in
the discretion OF the Governor. Comp
trOller OF the Treasury. and Treasurer.
or majority OF them; and the &C.
crued interest between the date of the
bonds or certificates OF Indebtedness
and the time of sale and delivery Of
any payment for said bonds or certi-
fcates OF Indebtedness shall be adjusi-
ed with the purchaser thereof under
such regulations as may be made in
the discretion OF the Governor. Comp
troller of the Treasury. and Treasurer.
or 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 a. 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 Indebtedness
as have been so bid for shall be- award.
ed by the Governor. Comptroller OF
the Treasury. and Treasurer or ma
jority OF them. TO the highest respons-
cash. II 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 high.
est and the certificates 30 bid for by
the highest responsible bidders are in
excess Of the whole amount Of the
certificates so offered for sale. such
bonds or certificates Of indebtedness
shall be awarded 70 such highest re
spon~.ble bidders bidding the same
price in ratable proportion. and il
any OF said certificates so offered for
sale are not bid for. or II any insult.
cient price be bid for them. they may
b subsequently disposed Of under the
direction o! The Governor Comptroller
of the Treasury and Treasurer or a
majority OF them. a. a private sail
upon the best terms they can obtain
Tor the same; provided they shall not
be sold az private sale for less than
par and accrued interest
SIC . and be il further enacted.
That 'he sum OF ten thousand ($lu.-
oool dollars, or so much thereof as
may De- 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 Ger
iifcates Of indebtedness for the pay
ment OF he expense of engraving,
printing and other OUTLAWS connected
with the issue OF the loan hereby au-
thorized. 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
SIC. 6. AMI BE- il TURNER enacted,
That the actual cash proceeds OF the
sale OF the certificates of indebted
ness 10 be- issued under this Acl shall
be used exclusively for the following
purposes 70 Wit.
The Comptroller shall. Immediately
upon the sale Of and payment for said
bonds or certificates Of indebtedness.
first return TO and credit the Treas.
ury with whatever advances or pa,
meuts may have been made as provid.
ID Tor By Section % this Ac' Tine
remainder of the proceeds OF said loan
shall thereupoH BE- turned over to the
state Roads Commission and used by
i from time 10 time as and when the
same hal, become necessary. for TN
following purposes said proceeds
shall BE- used aud expended by the
STATE Roads Commission first. one
hundred and fifty thousand dollars
'F.ft' ft''if'I e7 NV iAsI' AtttA Ahf4
the construction Of such bridges in the
several counties OF the State as may
be selected by the State Roads Cor
mission second one-half OF the resi-.
due Of the net proceeds received frau
the sale Of said bonds or certificates
Of Indebtedness with the aid OF Fed
era funds appropriated for such pun.
pose by any Act o Acts o. Congress.
Tor the construction in the several
counties % me state. Of such rura'
post roads as may be selected by the
state Roads Commission; and third
he remaining one alt OF the net pro.
ceeds derived from the sale Of such
bonds or certificates Of indebtedness
sail be used. with an equal sum TO be
raised b, tho several counties OF the
State. for the purpose Of building such
lateral roads IN the several counties
Of the state. as may be selected by
the State Road Commission The
money expended tog such post and
lateral roads in each OF said counties
T. Il. 4 q IL.