Worcester Democrat and the ledger-enterprise. (Pocomoke City, Md.) 1921-1953, 1936-12-31
Godfrey Child, Attorney
POcOmOke City. Md.
MAYOR AND COUNCIL
OF POCOMOKE CITY
Municipal Building Construc-
ton Bonds Of 1897
100000

Sealed bids will be received by the
Mayor and Council of Pocomoke City,
Pocomoke City, Maryland, at the Of
flee of the Clerk, for the purchase of
Twenty-six thousand dollars ($26,O00)
par value of serial coupon bonds of
the Mayor and Council of Pocomoke
City, until 7:30 clock P. NJ, on Mon
day, January 4, 1887, on which date,
at the hour of 7:45 o'clock P. NJ, said
sealed bids will be publicly opened by
the Mayor and Council of Pocomoke
City, in their room in the Municipal
Building in Pocomoke City, Maryland,
and the bonds will be awarded to the
highest responsible bidder for cash.
The bidders are requested to indi-
cate, with their bids, the rate of in
terest to be paid on the bonds, on
which rate their bids are based and
submitted: the rate named must be
multiple of one-fourth (A) of one
per centum (196) and must not exceed
four per centum (496) per annum.
The bonds will be awarded to the bid
der naming the lowest rate of interest
named in any legally acceptable pro-
posal, and offering to pay not less
than par for the bonds. The lowest
rate of interest will be determined on
the basis of the lowest interest cost
to the Town of the bonds so to be is
sued from their date of issue to the
last date ON maturity of any of said
bonds. AS between bidders naming
the same rate of interest, the propos-
al of the bidder offering to pay the
largest premium will be accepted. In
the event two or more responsible bid
ders have made the same bid, and such
bid provides the lowest interest cost
to the Town, as aforesaid, and if for
the whole amount of said bonds so of
fered for sale, or if such same bids,
taken together, exceed said whole
amount of bonds, then the bonds shall
be awarded in ratable proportion to
such responsible bidders making the
same bid
The right is reserved to the Mayor
and Council of Pocomoke City to re-
ject any or all bids.
A certified check for not less than
five per centum (590) of the amount
bid, drawn to the order of the Treas
urer of Pocomoke City, must be de-
posted with each bid for the said
bonds, as security for compliance with
said bid. No interest will be allowed
on the amount so deposited.
This issue of bonds is authorized by
Sections 9 to "a inclusive of Article 81
of the Code of Public General Laws
of Maryland (1935 Supplement-, as
amended by Chapter "a of the Acts
of the General Assembly of Maryland
passed at its Extraordinary Session in
the year 1886, and by a resolution of
the Mayor and Council of Pocomoke
City, duly adopted on the 22nd day of
December, 1886.
There are twenty-six (26) of said
bonds of the par value of One thous-
and dollars ($1OOO.OO) each, total TWEEN
ty-six thousand dollars 6,000.O0).
They are all dated January 1, 1887 and
they shall bear interest at the rate fix
ed in the accepted bid, as hereinabove
provided, payable semiannually on the
first days of January and July, in
each year, in accordance with interest
coupons to be attached to said bonds.
The bonds are numbered consecutively
from No. one ~ to No. twenty-six
(26), both numbers inclusive, and
they mature and are payable in vary
ing annual serial amounts in the or
der of their consecutive numbers in
the following manner, that is to say:
Bond No. Amount Year
Is Inclusive 100000 1888
4-6 Inclusive 100000 1889
10 Inclusive 100000 1910
lila Inclusive 100000 1941
1913 Inclusive 100000 1912
1922 Inclusive 100000 1943
1876 Inclusive 100000 1914
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