The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1881-04-25
DELAWARE STATE LOAN.
OFFICE OF STATE TREASURES,
DOVER Del ADril | igj

CONhhs ifoist APtll 1901.
In pursuance of the act ,ntitIe;. IAN
Act TO provide for the refmding of the
present bonded debt of THIS Stale nj a
lower rate OF INTEREST," passed al Dover.
March ~. A, u, 1881. l, Robert ]. Rey-
Golds, 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
81 lhe state OF Delaware, OF the denomi-
nation Of one thousand dollars each. d.
vided into three classes, TO be designated
as: 3 rles A, consisting OF two hundred
aud fifty Thousand dollars; series b con-
sisting OF three hundred Thousand d Dllars:
series o consisting OF one hundred aud
sixty-nve thousand dollars, and to bear
fNterest at the rate of four per ceniam
per annum, payable semi annually on The
nrst days of July and January in each
and every year, while they remain I'M
PAID, AT the Philadelphia National BANK.
IN the city OF Philadelphia, on prrsenta.
ttonof The coupon representing such semi
annual Interest. The bonds EN- braced
day of July, A. d., 1856. but may be re-
deemed at the option of the State at any
time after the first day of July, A. D..
1882. The bonds embraced In series Il
snail be pay Bile on the first day of July.
A. D., 1891. but may be redeemed at the
option oil the State at any time after the
nrst day OF July, A. D., 1885. The bonds
embraced In series q shall be payable Oh
y.
De redeemed at the option OF the state Al
any time aner the first day OF july. A.
d. 1891, provided, however, that II the
state elects 10 redeem any of he said
bonds, according " their tenor, such re.
demption shall be made either on the
nrsL 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 mr. Lday OF July, A. D., 1881, and shall
be exempt from taxation by the state OF
De aware Ior any purpose whatever
Each bid or proposal must be In writing
and must suite the bidders full name
anu place OF residence, and must be for
the whole an cunt of said loau and
be accompanied by a certified check 10
The order OF the State Treasurer for 1--we
per centum OF the bid which snail be re-
L&lned as 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 comnIy
with his bid by paying the balance there
shall be absolutely forfeited 10 Ire
state. No bid less than the mar
value OF the bonds will be accepted
Ali bids must be add TO the State
at Dover, and must be indorsed ON The
envelope. proposals for Delaware STATE
Loap.n 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.
AIter lhe said bids shall have been opened
and recorded the said comm sion shall
award The SAID loan TO the highest bid
der. In case there shall be two or more
bids al the same price. the said com IN ~
sion snail spportion the said loan as
nearly equally as may be amoig the
persons 80 bidding the same price. or
| may. at their discretion, having due
regard Tor the best interest OF the st ,te
award me whole TO any one o. such bid
ders. After the comm ssion shall have
awarded the loan, IL will be the duty oil
| the State Treasurer To return 10 ali
unsuccessful bi ders The certified checks
received from them respe lively aBd tn,
faith of the State is expressly pledged by
the said act for the return OF the said
CHECKS. The successful. bidder who shall
| comply with his old shall be allowed
Interest at the rate OF four pc ceDtum pei
annL M On the amount OF his deposit II ola
sns date OF the said award until the frs
DAY OF " ly, A. D., 1881, the time at which
interest shall begin TO accrue on the salt
pohasIwhich said said allowance shall
ne made Dy way of abatement on tn,
unpaid balance of his bid. When Ia,
award shall have been made 70 the suo
cessIul bidder or bidders OF The Ioar
autnorlzed by said act ana the said bond
snail be ready for delivery, the Stat
treasurer will cause notice in writing 4
pc served upon such bidder or bidders a,
least ten days before the time of delivery
which said notice shall slate the daS
when the bonds will be ready for delivery
and the amount of money which sucI
bidder or bidders will be r. quired TO pa1
on the day therein famed or within Ii v,
| days thereafter.
Such sum being the balance of tn,
amount OF the bid less the amount of tn,
nlddsr's cash deposit with interest, from
tne date OF the award, on such cash de
pos I; and upon the receipt OF the sun
contained In such notice the bends will
De delivered to the successful bidder OF
bidders In the office of the State Treasurer
In the town OF lover.
ROBERT J. REYNOLDS,
apl-2tawlmo.