The daily gazette., 1881-04-02
IELAwARE STATE LOAN.
OFFICE OF STATE TREASURER,
DOVER, Del, April !, 1881.
mar3Otapr7

OEFICE OF STATE lRkASUhEht |
DOVER, Del, April j, 1881
In pursuance OF the act entitled An
Act 10 provide for the refundlng OF the
present bonded debt of this state al
lower rate of interest,"" passed at Dover,
March 10, A. d., 1881, l, Robert j. Rey-
no DIS, state Treasurer OF the state OF
Delaware, do hereby give notice that bids
or proposals will be received ior the whole
amount OF the loan authorized by said
aci, said loan To be represented ny bonds
nf the State OF Delaware, OF the denomi-
nation OF one thousand dollars each, dt-
vided into three classes. 10 be designated
as: Series A, consisting of two hundred
and ftfty thousa u doliark; series Is con-
sihting OF three hu dred Thousand lllars;
series q consisting Of one hundred and
sixty fl We thousand dollars. and to bear
interest at the rate OF four per centum
per annum, payable semi-aunuaily on The
first days OF July and January In each
and every year, white they remain uu-
paid. at the Philadelphia National B IEk,
IN the city of Philadelphia. on presents
tlonof the coupon representing such semi
annual interest. 1he bonds embraced
in series A shall bs payable on the first
deemed at the option of the State at any
time after the first day of July, A. D..
1882. The bonds embraced Ia series 4
shall be pay. bic on the first day of July,
A. d., 1891. but may be redeemed at L. .
option oil tbs state at any time after the
first DAY OF July, A, d., 1886. The bonds
emb raced In series q shall ne payable o.
the fist day OF J"ly, A. d., 1901, but may
oe redeemed At the option Of the Stale nj
any time afier the first day of July, A.
D., 1891, provided, however, that II the
state elects to redeem any of he said
bonds. according 10 their tenor, such re-
demptIon shall be made either on the
first day OF July or January IN pursuance
OF due nosice 20 be given by the sta e
Treasurer. The Usnds shall all be stated
the mr.. ! day OF July, A. d., 1881. and shall
| be exempt from taxation by the SLaIe OF
DE aware Ior any purpose whatever
Each bid or proposal must be In writing
| and must STATE the bidders full name
| aud place OF resid, nee, and must be for
| the whole an cunt of said loan and
be accompanied by a certified check to
the order OF the State Treasurer for five
per centum OF The bid which shall be re-
Iained a. security Tor the payment OF The
residue OF the amount bid vixen the
bouds are ready for delivery. In case the
successful bidder should iall To comply
with his bid by paying the OalaLCe there
OF when demanded, the said percentage
| STATE. No bid less than the par
value OF the bonds will be accepted
a ii BIDS must be addressed 10 the State
Treasurer OF the State OF Delaware
at Dover. and must be indorsed ON the
euVe ope. proposals for Delaware State
Loan" The bids or proposals authorized
| by said act, Will be opened acled on and
disposed OF on the frat Tuesday Ia
May, a. d., 1881, at the hour OF two
O'Clock + Nj. N the Office of the Secretary
| II state, In The town Of Dover, by IA com
| mission appointed for that purpose
After the said bids shall have been Upened
I'd recorded the said commission shall
award The sal loan 10 The highest bid
der. In case there shall be two or more
bids at the same price, the said com mls-
sion shall apportion the said loan as
nearly equally as may be amo,g the
persons 30 bidding the same price, or
| may, at their discretion, having due
| regard for the best interest oil the st tie
award the whole 10 any one OF such bid
ders. Alter the commission sha have
awarded the loan, IL will be the duty of
| the Slate Treasurer 10 return To all
unsuccessful bi ders The certified checks
received from them respe lively and the
iaith OF the state is expressly pledged by
| the said act for The return OF the said
cht cks. The successful! bidder who shall
comply with his bid shall be allowed
| Interest AT The rate Of four pei ceDtum per
annGm on The amount oil his deposit Il ON
the date of The said award until the first
day OF July. A. D., 1881, the time at which
| Interest shall begiu 10 accrue ON the said
oohds-Which said said allowance shall
De madg by way of abatement ON the
| unpaid balance Of his bid. When the
award shall have been made 70 the sue
cessiul bidder or bidders OF the loan
authorlz zed by said act ana the said bonds
snall be ready for delivery, the state
| Treasurer will cause notice In writing 10
be served upon suc ch bidder or bidders al
leasl Ten days before the time OF delivery
OF The bonds indicated in such notice
which said notice shall state the sday
| when the bonds will be ready for delivery
ana the amount Of money which such
bidder or bidders will be r quiTeu to pay
ON the day therein named or within ii yt
days thereafter.
Such sum being the balance of the
amount OF the bid less the amount of the
bidders cash deposit with Interest, iron
The date OF the award, on such caHh de
pos I; and upon the receipt of the sun
contained In such notice the bends Will
+. be de ivered to The successful bidder d
bidders IN the Office OF the State Treasurer
| In the town OF Dover.
ROBERrJ. REYNOLDS,
State Treasurer.
apl. .2tawlmo.