Milford chronicle., 1885-05-01
nFLAWARE STATE LOAN.
OFFIcE OF STATE TREASURER.

n ,
DOVER, DELAWARE, April nth, 1888.
In pursuance Of the act entitled, IAN Act to
provide for part Of the Funded Debt OF this
State - passed at Dover April sth, 1885. l. John
81. Houston, State Treasurer Of the State OF Della
ware do hereby give notice that bids or proposals
will be received for the whole amount of the loan
authorized by said act said loan to be represented
by bonds of the State Of Delaware of denomina-
tion Of one thousand dollars each, whole amount
being one hundred and twenty thousand dollars
fs120 O0O and to bear interest at the rate Of four
Der centum per annum, payable semiannualy on
the first DAYS Of June and December in each and
every wear while they remain unpaid, at the Phila-
dephia National Bank in the city Of Philadelphia,
on presentation Of the coupon representing such
semi.aanual interest The principal OF the said
onds shall be payable on the first day of June, A.
D 1895, at the Philadelphia National Bank in the
CITY Of Philadelphia, on presentation and surren-
der of the seid bonds, but the same or any part
thereof may be redeemed at the option OF the State
on any first day Of December or first day OF june
after the first day Of June, A. D.,lS95n pursuance
Of due notice to be given by the State Treasurer,
The bonds shall all be dared the first day OF June,
A. D., 1885, aud shall be exempt from taxation by
the State Of Delaware for any purpose whatever.
Eaeh bid or proposal must be in writing. and must
the li0Qef ill Adllc anu pluSN VI
and nust be for the full amount of the loan, and
every such bid must be accompanied by certified
check to the order Of the State Treasurer for five
per centum Of the amount of the bid, which shall
he retained and held as security for the compliance
Of the bidder with his undertaking in that behalf.
In case the bidder, to whom the loan shall be
awarded fails or omits for the space OF tea days,
after the date Of such awardo pay the State Treas
nrer the amount Of his bid, the said per centage
shall be entirely forfeited 20 the State No bid
less than the par value OF the bonds will be ac-
cented. All bids must be addressed to the State
Treasurer, at Dover, Delaware, and must be en-
dorsed on the envelope, 'PrODUsal for Delaware
State Loan" The bids or proposals authorized
Inv said act will be opened acted on and disposed
Of on the sixteenth day of May, A. D. 1885, at the
bour of II o'clock n. m, in the office of Secretary
of State in the town of Doyer,b bya commission ap-
nointed for that purpose After the said bids shall
have been opened and recorded, the said commits
sion e,H award tlc said loan TO the highest bid
der. 2. ,yo or more persons shall bid the same
amour 2 r the said loan,the said commission shall
have n, ct4 and authority 10 award the whole loan
ts ouv oun 2 them. After the commission shal
have a,v, "a the loan It will be the duty OF The
state TREAD, 9r to return to all unsuccessful bid
ders, the c'ftaed Checks received from them re
i speetiyslys Tie successful bidder who shall eOiii
nlv with his bid shall be allowed interest at th'
rate of four per centum per unnum on the amount
of his deposit from the date Of said award until the
arst day Of June, A. D., 1885, end also like re
hate on the BALANCE of his bid from the date OF IL
navuent TO the State Treasurer, until the first da.
! of lime. A. D., 1885, the time at which interes
sball bepin to accrue on said bonds which said al
Iowauce shall be made by way Of abatement from
the amount Of his bid When the award OF th'
said loan shall have been made by said commission
the State Treasurer shall cause notice in writin
to be served upon the successful bidder Of the fact
a and also notifying him that the balance OF ms o
will he REQUIRED to be paid to said State Treasurer
Az MS Office in the town Of Dover, within ten DAY
ffotn me date OF said award or that his cash at
Y posit viii be forfeited to the State.
And upon the receipt Of the sum contained 1
such notice, the bonds will be delivered to the sue
n cessfu bidder In the office OF the state treasure
Il Il" Wv State Treasurer.