The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-04-29
.ELAwARE STATE LOAN.
OFFICE OF STATE TREASURER,
DOVER DEL ADrll I 1R2

In pursuance Of the act entitled IAN
Act to provide for the rounding OF the
lower rate OF interest,"" passt at Dover,
March l6, A. D., 1881, I, Robert ]. Rey-
nOids, state Treasurer OF the State of
Delaware, do hereby give notice that bids
or proposals will be received for the whole
amount OF the loan authorized by said
act, said loan TO be represented by Donds
OF the State of Delaware, OF the denomi-
nation OF one Thousand dollars each, d.
vtded into three classes. 10 be designated
as: Series A, consisting of two hundred
aud fifty Thousand dollars; series b con-
sisting OF three hundred Thousand dollars:
series O consisting OF one hundred and
sixtY-fve thousand dollars. and to bear
interest at the rate OF four per centum
per anpum, p ayable semi. aun ually on the
nrst days Of July and January in each
aud every year, while they remain un-
paid, at the Philadelphia National Bank,
In the city OF Philadelphia ON prehenta-
| tionof the coupon representing such semi
annual interest. The DCLds EN- braced
| in series A shall be payable on the first
day OF July, A. D., loS6, but may be re-
time after the frat day OF July, a. D..
/ 1882. The bonds embraced in series b
shall be payable on the first day of july,
A. D., 1891. but may be redeemed at toe
| option oil the State at any time after the
| first day OF July, A. D., 1886. The bonds
embraced In series G shall be payable on
the first day OF July, A. D., 1901, but may
pc redeemed at the option of the state at
any time after The first day OF July, A.
D.i 1891, provided, however, that II the
state elects to redeem any Of he said
bonds, according to their tenor, such re-
demption shall be made either on the
| first day Of July or January In pursuance
Of due nosice 10 be given by the state
Treasurer. The bends shall all be stated
| the fret day OF July, A. D., 1881, and shall
be exempt from taxation by the Stale OF
Delaware LOT any purpose whatever
/ nr0nnaa1 m nat a In rff ffv,.y
and must state the bidders full name
aud place of residence, and must be for
the whole an cunt OF said loan and
be accompanied by a certified check to
per centum OF the bid which shall be re-
tained as security for the payment of the
residue of the amount bid when the
bends are ready for delivery. In case the
successful bidder should tail to comply
with his bid by paying the balance there
OF when demanded, the said percentage
shall be absolutely forfeited TO the
state. NO bid less than the par
All bids must be addressed 10 the state
| Treasurer OF the State OF Delaware
At Dover, and must be Endorsed on the
envelope Proposals for Delaware State
Loan" The bids or proposals authorized
by said act, will be opened, acted on and
disposed Of on the first Tuesday In
May, A. D., 1881, at the hour or two
O'Clock T. N. IN the office ofthe Secretary
4
mission appointed for that purpose.
After the said bids shall have been ope IA ed
and recorded the said commission shall
| award the said loan 10 the highest bid
der. In case there shall be two or more
bids at the same price, the said com mis-
sion shall Rpportion the said loan as
nearly equally as may be among the
persons so bidding the same price, or
may, al their discretion, having due
regard tor the best interest OF the State,
award the whole to any one OIL such bid
ders. After the commission shall have
awarded the loan, 1t will be the duty Of
the STATE treasurer To return to all
unsuccessful BIZ ders the certified checks
received nom them respectively and the
!altn OF the state is expressly pledged by
tne shld act Tor The return of the said
cnec ks. The successful bidder who shall
comply with his Did shall be allowed
interest at the rate OF four per ceDtum pei
annnm on the amount OF his deposit from
me date OF the said award until the FIRST
day OF July. A. D., 1881, the time at which
interest shall begin to accrue on the said
oonds-which said said allowance shall
DC made by way OF abatement on Lns
unpaid balance OF his bid. When the
award shall have been made TO the sue
cessful bidder or bidders OF the Ioan
authorized by said act ana the said bonds
snail be ready for delivery, the State
treasurer will cause notice in writing t6
De served upon such bidder or bidders al
least Ten days before the time of deliver,
OF the bonds Indicated In such notice
i Wnlch said notice shall state the day
Wnen The bonds will be ready for delivery
Snu tne amount OF money which sucl
Dlader or bidders will be required TO pa,
on the day therein named or within Nv
, days thereafter.
such sum being the balance of tn
amount OF the bid less the amount of tn,
plddsr's cash deposit with interest, iron
Ihe date OF the award, on such cash de
pos u and upon the receipt of the sun
( SohIained In such notice the bends vii
be delivered to the successful bidder o
bidders IN the office OF the State Treasure
In the town OF lover.
ROBERT ]. REYNOLDS,
State Treasurer.