The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-04-26
nELAwARE STATE LOAN.
OFFICE OF STATE TREASURER,
DOVER, Del. April l 1891

In pursuance OF the act entitled IAN
Act TO provide for the refundtng OF the
present bonded debt of this state Mt a
iower rate of interest,"" passed at Dover.
March TO- A. D., 1881, i, Robert ]. Rev.
mods, 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 70 be represented by bonds
Of the State OF Delaware, OF the denomI-
nation OF one thousand dollars each. d.
vtded Into three classes. to be designated
as; series a, consisting OF two hundred
and hfty thousand dollars; series b con-
sisting OF three hundred thousand dollars.
series o consisting OF one hundred and
sixtY-f1ve thousand dollars, and TO bear
interest at the rate OF four per centum
per annum, payable mi-annuRIly on the
first days OF July and January in each
aud every year, while they remain nm
paid, at the Philadelphia National Rang
in the city OF Philadelphia. on presents
tlonof the coupon representing such semi
annual interest. The bonds embraced
in series A shall be payable on the irst
day OF July, A. D., 1885. but may be re-
deemed at the option OF the State at any
time alter the first day of July, A. ID.
1882. The bonds embraced Ia series Il
| shall be payable on the first day OF july.
| A. d., 1891. but may be redeemed at the
option OF the state at any time after the
| embraced In series q shall be payable on
the nrst day of July, A. De-, 1901, but may
| Do redeemed at the option Of the state Al
any time after the first day of July, A.
| Dr. 1891, provided, however, that II the
| state elects to redeem any of the said
/ bonds, according 10 their tenor such re-
| demptlon shall be made either on the
first day OF July or January In pursuan ce
| OF Que nohlce 10 be given by the htaIe
| Treasurer. The bends shall all be statefi
the frat day OF July, A. D., 1881, and shall
be exempt from taxation by the State OF
Delaware Tor any purpose whatever,
| Each bid or proposal must be In writing
and must slate the bidders full name
| aud place OF residence, and must be for
| the whole an cunt of said loan and
be accom- panied by certified check 10
the order OF the State Treasurer for Ave
per centum OF the bid which shall be re-
tRined 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 fail TO mply
with his bid by paying the balance there.
OF when demanded, the said percenfa0t
shall be absolutely forfeited 70 M
state. NO bid less than the pal
ALI bids must be addressed 10 tie StaI,
. treasurer OF the State of Delawar,
At Dover, and must be Endorsed OH In,
envelope Proposals for Delaware Stat
Loan. The bids or proposals authorize
by said act, will be opened, acted on AN,
. | disposed OF on the first Tuesday 4,
May, A. D., 1881, at the hour OF tw,
O'Clock r NJ, IN the Office OF the Secretar,
: 1 a
! mission appointed for that purnose
! After the said bids shall have been opsne
ana recorded the said com IN aston shai
award the said loan 10 the highest bid
, der. In case there shall be two or NOR
= bids al the same price, the said commls
> sion shall apportion the said loan 4
nearly equally as may be amor < tn
persons SO bidding the same price, Q
may, at their discretion. having du
!. regard tor the best interest of the Stat,
4 | award the whole TO any one OIL such bid
ders. After the commission shall nav
awarded the loan, II will be the duty ,
u unsuccessful bi ders the certified check
received from them respe stlvely and IN
faith OF the state Is expressly pledged b
the said act for the return of the sal
| checks. The successful! bidder who sha
comply with his Did shall be above
interest at the rate OF four per ceDtum D,
ann. m on the amount OF his deposit froI
wne date OF the said award until the ar
day OF July, A. D., 1881, the time at Whic
Interest shall begin to accrue on the al
oonds-which said said allowance sha
Dc made by way OF abatement on u
= UNPAID balance OF his bid: When Il
cessiul bidder or bidders of the Ioa
N. authorized by said act ana the said bone
Ia snail be ready fer delivery the STA
. treasurer Will cause notice In writing
pc served upon such bidder or bidders
least ten days before the time of deIiyer
- OF the bonds indicated In such motto
n which said notice shall state the ds
when the bonds will be ready for deliver
and the amount OF money which any
bidder or bidders will be required TO los
on the day therein named or within ii,
days thereafter,
such sum being the balance of II
amount OF the bid less the amount of ii
bidders cash deposit with interest, fro
| Inc GATE OF the award, on such cash d
pos u and upon the receipt of the su
contained in such notice the bends wi
De de ivered TO the successful bidder
bidders In the office of the Slate Treasur
IN the town OF bower.
ROBERT j. REYNOLDS,
apl-2tawlmo. -