Milford chronicle., 1951-04-06
$5O,OOO.OO
TOWN OF MILTON, INC.
Sussex County, Delaware
MUNICIPAL BONDS
SERIES OF 1851

4 Under the provisions of Section sc
I BORROWING MONEY AND ISSU-
/ ANCE OF BONDS) of An Act of the
general Assembly of the State OF
/ Delaware entitled IAN ACT TO RE-
1 INCORPORATE THE TOWN OF MIL
OF the General Assembly (Chap 1874
Laws OF Delaware, VOL 45) Mayor and
Council OF Milton, until twelve O'Clock
noon, Eaatern Standard Time, on
April q, 1851, at the Office of the
Mayor and Council in the Municipal
Building, Milton, Delaware, will re-
ceive sealed proposals for the pur-
chase Of all, but no part, of an issue
Of bonds in the principal sum of Fifty
Thousand Dollars (S50, ,000O0), being
coupon bonds, series Of 1851, of the
salu IoWn OF Milton, Inc, in One
Thousand Dollar ($1 ,000) denomina-
tiOns, bearing date the 1st day of
July, 1851, numbered consecutiVely,
exempt from all State, County or Mu-
nicipal taxes, not subject to registra-
tiOn, the principal and interest pay
able IN current lawful money at the
Sussex Trust Company, Milton, Della
ware, the interest to be payable on
each bond semi-annually on the 1st
day of January and the 1st day of
july. of each year until the said
bonds mature.
The issue of bonds win be retired
by calling for redemption on July 1st
of each year beginning with the year
1852, two of said bonds being Two
Thousand Dollars $2,O00.00) in amount,
and like amount on the 1st day of
July in each year thereafter for TWEEN
ty-five $3.50 consecutive years.
The faith and credit of Mayor and
Council OF Milton are pledged for the
payment of the principal and interest
OF the bonds when due and payable
notwithstanding that the bids will
A
viii be taken by the Board regarding
the sale of the bonds on April %,
1851, it is proposed that the bonds
will not be delivered and will not be
paid for until the 1st day of July,
1851.
Bidders are requested to name the
rate of interest the bonds shall bear,
which must be stated i'm multiples of
one-eighth of one per cent and must
not exceed three per cent (3%). The
interest stated in the bid must apply
to the entire issue. Bidders are also
requested to state what, if any, prem
illm they will pay for the bonds.
Bids must be accompanied by GER
titled or cashiers checks, payable to
the Mayor and Council of the Town
of Milton Sussex County, Delaware,
for five per cent (5&o) of the principal
amount of the entire issue, such
checks to be returned to the unsuc-
cessful bidders.
The right is reserved to waive the
failure by any bidder to comply with
any provision of this notice, and to
reject any or all bids.
Subject to the provision that the
bonds shall not be sold at less than
face value, and all other provisions of
this notice, the bonds will be awarded
to the bidder stating the best offer.
consideration being had to the in
terest rate stated and the price Offer
ed.
Further information may be obtained
from Everett F. Warrington, the Town
Solicitor, at Georgetown, Delaware, a
copy of whose opinion regarding the
validity of the bonds will be available
to the successful bidder upon request. 1
Bids may be conditioned upon the
approval as to the validity of the
bonds of any attorney or firm selected
by the bidder, but the expense of any
such other opinion will be borne by
the bidder
This advertisement is issued by or
der of the Mayor and Council of the |
Town of Milton, Inc, Sussex County, |
ARTHUR w. WAGAMON
4-6-2t Secretary