The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-05-02
DMLAwARE STATE LOAN.
OFFICE OF STATE TREASURES,

DOVER, DEL, April 1, $751;
In pursuance of the act entitled IAN
Act to provide for the refunding OF the
present bonded debt Of this state at a
lower rate of interest,"" passed at Dover,
March Is, A. D., 1881, /, Robert j. Rey-
nolds, State Treasurer of the state of
Delaware, do hereby give notice that bids
or proposals will be received tor the whole
| amount OF the loan authorized by said
act, said loan TO be represented by bonds
Of the Stale of Delaware, of the denomi-
| nation CT one thousand dollars each, d.
vlded into three classes. TO be da'ignated
as: Ssrles A, consisting of two hundred
and fifty IhousaLu dollars; series Il con-
sisting of three hundred Thousand dollars;
series q consisting OF one hundred aud
| sixtY-f1ve thousand dollars, and To bear
| interest at The rate of four per centum
| per annum,payables emi-aun ually on the
nrst days OF July and January in each
| aud every year, while they remain I'M
paid, AT the Philadelphia National Blnk,
in The city OF Philadelphia on presenta-
tionof The oupon representing such semi
annual interest," The bonds embraced
In series A shall be payable on the first
day Of July, A. d., 1856, but may be re-
time after the first day OF July, A. D..
1882. The bonds embraced In series b
shall be paysble on the first day of July,
A. d., 1901. but may be redeemed at -
option OF th4 state at any time after The
nrst day OF July, A. D., 1886. The bonds
embraced in series y shall be payable on
the first day of JLly, A. d., 1901, but may
De redeemed at The option oil the stale at
any time after The first day of July, A.
De- 1891, provided, however, that II the
state elects TO redeem any OF he said
bonds, according 10 their tenor such re-
demptlon shall be made either ON the
nrst day of July or January In pursuance
of due nos Ice 10 be given by the state
Treasurer. The bends shall all be stated
the tday OF July, A. D., 1881, and shall
ne exempt from taxation by the stale of
ne aware Tor any purpose whatever.
Each bid or proposal must be In writing
and must state the bidders full name
aud place OF Residence and must be for
the whole an cunt of said loan and
he accompanied by certified check 10
The order oi the State Treasurer for five
per centum OF the BID which snail be re-
tained as s -curity for the payment of the
residue OF The amount bid when the
bonds are ready for delivery. In case the
successful bidder should iaII TO comply
with his bid by paying the balaLce there
of when demanded, The said percentage
shall be absolutely Io.telJed 10 the
State. No bid less than the par
value OF the bonds VIII be accepted
All bids must be cdd essei TO the State
Treasurer OF the State of Delaware
1T Dover, anu must be Endorsed on the
envelope. proposals for Delaware State
Loan The bids or proposals authorized
disposed of on the first Tuesday IN
May, A. d., 1881, at the hour OF Two
O'Clock T.. M, n the Office OF til Secretary
state, In the town OF Dover, by a COM
mission appointed for that purpose.
After the said bids shall ha We been opened
and recorued the said COMMIT, sion shall
award Tie said loan 10 the highest bid
DER. Ia case there shall be Two OF more
bids at the same price. the said commas
sion snail appOrtlOn the said loan as
nearly equally rs may be amo. the
persons SO blddii < the same pr ce. or
may, at their discretion, having due
regard Tor the best interest oil the State,
award The whole 10 any one OF such bid
ders. After The comm ssion shall have
awarded the loan, 1T will be the duly OF
The State Treasurer To return 10 all
unsuccessful bi ders the cerlifled checks
received from them respe lively and tbs
faith OF the state is expressly pledge d by
The sid act Tor the return OF the said
CHECKS. The successful bidder who shall
comply with his bid snail be allowed
Interest at the rate of four per ceDtum per
ann IN on the amount oil his deposit fIom
@he 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
ponds-whlch said said allowance shall
De made by way Of Abatement on the
unpaid balance of mis- bid. When The
award snail have been made TO the sue
cessiui bidder or bidders OF The loan
authorized by said act anu the said bonds
snail De ready for delivery, the state
treasurer will cause notice III writing TO
be served upon such bidder or bidders at
| least ten days before the time of delivery
| OF the bonds Indicated in such notice
| which said notice shall state the day
when the bonds will be ready for delivery,
| ana the amount of money which sucn
| bidder or bidders will be required TO paw
| on the day therein Eamed or within hive
days thereafter.
such sum being the balance of the
amount of the bid less the amount of the
| bidders cash deposit with interest, from
the date OF The award, on such cash de-
pos u and upon the receipt OF the sum
| contained In hucn notice the bends Will
oe delivered To the successful bidder OF
bidders IN the Office of the State Treasurer
In The town OF Dover.
ROBERT J. REYNOLDS,
State Treasurer.
apl-2tawImo.