The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-04-28
DELAWARE STATE LOAN.
oFFIoR OF STATE TREASURES,

DONhhs (Cl.t ApiLl 1ool.l
In pursuance OF the act entitled IAN
Act to provide for the refunding OF the
present bonded debt of this state at a
Iower rate of Interest," passed at Dover,
March 10, A. D., 1881, /, Robert j. Rey-
nc. DIS, 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
aci, said loan TO be represented by bonds
of The State OF Delaware, Of the denomi-
nation OF one Thousand dollars each, d.
vided into three classes. TO be designated
as: 3 rIes A, consisting of two hundred
and fifty Thousand dollars; series Ii con-
sisting of three hundred thousand dollars;
series U consisting OF one hundred and
sixty fl We thousand dollars, and to bear
interest at the rate of four per cenium
per annum, payable semi -auD ually ON the
nrst days OF July and January in each
and every year, while they remain I'M
paid, at the Philadelphia National BLhk,
In the city of Philadelphia. on presenta-
tionof the coupon representing such semi
annual interest. The bonds embraced
day OF July, A. d., 1886, but may be re-
deemed at the option of the State at any
time alter 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., 1891. but may be redeemed at L. Q
option OF the State at any time after the
f1rst day OF July, A. D., 1886. The bonds
embraced in series q shall De payable on
y, a.
DC redeemed at the option OF the State at
any time alter the first day of July, A.
d. 1891, provided, however, that IL the
State elects to redeem any OF he said
ponds, according 10 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 nrstday of July, A. D., 1881, and shall
be exempt from taxation by the State OF
Delaware Ior 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
be accompanied by a certified check 10
the order OF the State Treasurer for five
per centum OF the bid which shall be re-
Lalned a. security for the payment of the
residue of the amount bid when the
bonds are ready for delivery. In case the
successful bidder should fail TO comply
with his bid by paying the balance there
shall be absolutely forfeited TO the
state. No bid less than the par
value OF the bonds will be accepted
All BIDS must be addressed TO the State
at Dover, and must be indorsed on the
envelope. proposals for Delaware State
Loan" The bids or proposals authorized
by said act, VIII be opened. acted on and
May, A. d., 1881, at the hour OF two
O'Clock +, M, IN the Office OF the Secretary
Of State, in the town of Dover, by a com
mission appointed for that purpose
Alter the said bids shall have been opened
I and recorded the said comm ssion shat
| award The said loan TO The highest bid
+; | der. In case there shall be two or NOR,
: DDS AT the same price, the said com IN 10
! sion shall apportion the said loan Al
nearly equally as may be amo. tn,
persons 80 bidding the same price, o
!, may, at their discretion, having du,
regard Tor the best interest OF the State
. award the whole TO any one OF such bid
J. ders. After the commission shall hay,
3 awarded the loan, IL will be the duty O
y the State Treasurer TO return To al
unsuccessful bi, ders The certified check
4 reserved from them respectively ahd ia
faith 1.-THE State IL expressly pledged b,
, | The said act for the return OF the sait
checks. The successful. bidder who shat
comply with his Did shall be allowe
81 at The rate OF four pei ceDtum pc
: ann.. M on the amount ot his deposit from
,. khe date OF the said award until the frs
:. day OF July, A. D., 1881, the time at whic
" Interest shall begin TO accrue on the sal
= Donds-whlch said said allowance Rha
D be made by way of abatement on Lli
=. unpaid balance of his bid. When III
70 award shall have been made TO the SUI
= cessiul bidder or bidders OF the Ioa
u authorized by said act ana the said bont
y shall be ready for delivery, the Sta
Treasurer will cause notice In writing
n De served upon such bidder or bidders
least ten days before the time of deliver
n OF the bonds indicated in such motto
- which said notice shall state the df
when the bonds will be ready for deliver
no and the amount of money which gu,
~. bidder or bidders will be required TO pI
=, on the day therein named or within Ii
n days thereafter.
Such sum being the balance of d
AZ amount of the bid less the amount of I
AZ bidders cash deposit with interest, fro
~ the date OF the award, ON such cash {
~ pos {; and upon the receipt of the SD
IT. contained In such notice the bends "
81 be delivered TO the successful bidder
~ bidders In the Office OF the State Treasu
In the town of DOver.
ROBERT j. REYNOLDS,
State Treasurer
M apl-2tAwlmo.