Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1922-07-26
STATE OF MARYLAND
PUBLIC GENERAL LAWS

-, "a lndehfnA.
shall bear date as OF the ', ,,sl
tneir Issue as provided N sa. .s q
OF inns Act and shall no, \. NV, ~.
IN less sums than ono ~ "set
lars (sloo.oOl or a1v ~8.ea DOL
thereof. Each OF sa,s o.' -.'lps
shall be signed b. the rros '..-'s'e'
the state and counterslrns5 -" o.
Comptroller OF the Tressr,s y ne
shall bear interest a. the ,,, 49, ast
by resolution OF said Ro,r4 aist
lie Works. payable sem,.. :. laS'
ana u portion or all OF sslA .-V
Gates may be registered ana ~. o,''0'
certihcates, or any portion -
shall have interest coupons &C.,,
all as the Governor. Comp,n,n..
the Treasury and treasure 90,
torty OF them. shall determine ma
SIC. 6. And DC II 'ir,Ac. Co..
That in order to provide .or w. - va
ing of she certificates Of ,p1a,,.,
ness aforesaid. to be issued - -
the provisions OF this Ac, ~ c-
ernor. Comptroller Of the Tro..a'
and the Treasurer Of this Stat
a majority OF them. are hsrsh, :,
rected to advertise twice n we,t :.
four successive weeks before -.
said certificates OF indeh,edps.,
any part thereof. shall be isspea y,
two neyspabers published IN the ~,
OF BatiworeS,Sthat the Treasure, y,
this State wiliShe IN READINGS, :,
time within CID days after the a.,
piration of saidghotice 10 receive Ma.
at such place or places may he mama
in said respective advertlsen,,,.
for bonds or certificates o, indian,
edness issued under the provision,
OF this Act. under such reguls,lor.
as may be made In the discretion q,
the Governor. Comptroller OF n.
Treasury and Treasurer. or ma.
jority or them; and the accrued n.
terest between the date OF the bona,
or certificates OF Indebtedness ,ss
Tho time Of sale and delivery Of an;
payment for said bonds or eerts.
Gates OF Indebtedness shall he tt.
justed with the purchaser Thereof
under such regulations as may D.
made in the discretion OF the Gov.
ernor. Comptroller OF the Treasury
and Treasurer. or a majority Of
them; and upon the day mentioned
in said advertisement as the day iW
opening the bids or the proposals
thereby called for they shall receive
such sealed proposals for the ruT-
chase OF as many OF such bonds or
certificates of Indebtedness 40 NAV
be mentioned or designated In said
advertisements; and on the opening
of such sealed proposals.. as many Of
said bonds or certificates Of indeb-
edness as have been 40 bid for shall
be awarded by the majority Of them
to the highest responsible bidder OF
bidders therefor for cash. II 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 haW
made the same bid and such bid
the highest and the certificates %
bid for by the highest responsible
bidders. are In excess OF the Who'
amount Of the certificates so onsfef
for sale, such bonds or Certhosh
of Indebtedness shall be awarded
such highest responsible bidder
bidding the same price In ra'am
proportion; and If any OF said CO.
tiflcates so offered for sale are o.
bid for. or il any insufficient PR
be bid for them, they may be q
seQuently disposed of I'M der The
rection OF the Governor. Wmpif0h
Of the Treasury and Treasurer I"
majority OF them, at a private @s
upon the best terms they can o'AA
for the same; provided they '0',
not be sold for less than par AZ
accrued interest
SEC. 7. And be IL further en9e'.
That the sum Of ten Thousand w
lars ($I0, 000.00) or so much Ter,
OF as may be necessary, shall De ~
by the Treasurer Of this STATE IVY.
the warrant of the Comptroiisi "
Of the proceeds OF the sale OIL OO.-
or certificates OF Indebtedness.
the payment OF the expense u
craving, printing and other QUA
connected with the issue oil me w.
hereby authorized and FOR the ~
ment OF the advertising dlrecl0,
this Act and all other incidental q
penses in connection with 'Ds CAV :,
ton of its provisions pertsihnS
said loan. an
SIC. 8. And be It further en1'', ..
That the actual cash proceeds o. -
sale of the certificates OF inae0' :.
ness to be issued under 'Ds !,
shall be paid to the Treasure .,,T
tha State. and such proceeu,, ',,r.
be used exclusively for me i oa..r.
Ing purposes, to wit: The CO@ =.
troller shall Immediately IVY. ,,,s,
sale OF and payment for SAD 0. s..,
or certificates OF Indebtedness ss.' ~
return to and credit the TIss res,
for whatever advances OF - 80 "a,
may have been made as pfo'iosa =,
by Section 7 Of this Act. -, = ~,
mainder Of the proceeds Oh a., "a 70
shall be turned over or eisuns p
the state Roads Commission Sn' -.