The daily gazette., 1881-04-08
nEIAwAsE STATE Loan.
OFFICE OF STATE TRxAsURER, ..

OEEIOE Oh STATE lkBAoOAkRl
DOVER, DEL, April l, lSSl.l
In uursusnce of the act entitled IAN
Act 10 provide for the Tefundlng OF the
pre-. ent bonded debt OF this state at
lower rgie of interest,"" passed at pover'
March 10, A. d., 1881, 1, Robert !. hcy.
noids, state Treasurer OF the SIate OF
Delaware, do hereby give notice that olds
or proposals will be received Tor the whole
amount OF the loan authorized oy shld
act, said loan TO be represented by bonus
Of The State OF Delaware, OF the denomi-
nation OF one thousand dollars each. di.
yided into three classes, TO be designated
az: Series A, consisting OF Two hundred
| and nifty thousaud dollars; series Is con-
sistinR OF three huudred Thousand dollaFsi
series q consisting oil one hundred and
| sixtv-fve thousand dollars, and to bear
| Interest at the rate OF four per centum
per anpum,payables semi-snnualiy on tne
| nrst days Of July aud January In each
aud every year, while they remain nn-
paid, at Lne Philadelphia National Bank,
| in the city of Philadelphia. on presenta-
tionof the oupon representing sucn semi,
in series A shall be payable on the first
day of July, A. D., 1885, but may be re-
| deemed at the option OF the State AZ any
time after the first day OF July, a. d.,
1882. The bonds embraced Ia series b
shall be paysb bic on the irst day Of July,
| A. d., 1891, but may be redeemed Al tne
option OIL the state at any time after the
first day OF July, A. D., 1888. The bonds
the frst day oi J ..ly, A. d., 1901, but may
be redeemed at the option OF the Stale At
any time afIer the first day OF July, A..
D.1 1891, provided, however, that II the
state elects 10 redeem any OF he said
bonds, according 10 their tenor, such re.
demptlon 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 fir- tday OF July, A. D., 1881, and shall
be exempt from taxation by the state Of
DE aware Tor any Iurposv whatever.
Each bid or proposal must be In writing
and must state the bidders full name
and place OF reside nee, and must be for
the whole an cunt OF said lOaA and
be accompanied by certified check 10
the order of the State Treasurer for five
per ceutum OF the bid which shall be re-
Iained ~ security for the payment of The
residue Of the amount bid when the
bonds are ready for delivery. In case the
successful bidder should hail TO comply
with his bid by paying the balsLce there
OF when demanded, the said percentage
snail be absolutely forfeited 70 the
state. No bid less than the par
value of the bonds will be accepted
All bits must be add essed 10 the state
Treasurer OF the State OF Delaware
AL Dover. and must be lndorsed on the
enve ope. Proposals for Delaware State
Loan" The bids or proposals authorized
by said act, will be opened. acted ou aud
disposed Of on the frat Tuesday In
May, A. D., 1881. at the hour OF two
O'CLOCK 4. M, n the once OF the secretary
of state, In the town OF Dover. by a com-
mission appointed for that purpose.
After the said bids shall have been open ed
and recorded the said commission shall
award the SAID loan TO the highest bid
der. In case there shall be two or more
bids at the same price. the said com III ~ =
sion shall apportion the said loan NJ
nearly equally an may be among the
persons 50 bidding the same price, OI
may, at their discretion, having due
regard Tor the best interest OF the Stste
| award the whole 70 any one OF such bId
ders. Affer the commission shall have
awarded the loan, 1t will be the duty o
the State Ia TIeasurer 10 return to al
unsuccessful bi ders The certified check
received from them Tespe lively and In,
faith OF the state 10 expressly pledged by
The . Id act for the return OF the salt
checks. The successful. bidder who shaI
comply with his bid shall be alloweC
Interest at the rate OF four PEI ceDtum pei
annLm on the amount oi his sdeposit from
tue date Of the said award unIil the nrs
\ day OF July, A. d., 1881, The time At whlC1
, Interest shall begIu 10 accrue ON the sale
ooDds-which said said allowance Shal
, be made oy way OF abatement ON III,
unpaid balance OF his bid; When th'
} award shall have been made TO the sue
cessfui bidder or bidders OF ihe ioaI
authorised by said act anu the said bond
shall be ready for delivery, the Stat
Treasurer will cause notice IN writing 4
be served upon such bidder or bidders q
least ten days before the time OF de liver,
| OF the bonds indicated In such notice
| which said notice khaIl state the .da,
when the bonds will be ready for delivery
/, | and the amount of money which sue
bidder or bidders will be re a. uired To pa
on the day therein named or within d.
days thereafter.
such sum being the balance of tn
amount OF the bid less the amount OF tn
bidders cash deposit with interest, fron
the date of the award, on such caah dc
pos Il and upon the receipt of the sun
a. contained In suco notice the bends vii
! be delivered TO the successful bidder O
! bidders in the Uifiee of the State I Treasure
' In the town OF Dover.
! ROBERT ]. REYNOLDS,
! State Treasurer.
! apl-2tawlmo.