Milford chronicle., 1951-11-16
SALE OF s1OO,OOOOO TOWN OF
LAURE IMPROVEMENT BONDS
Series Of 1852

Under the provision Of an Act of
the General Assembly Of the State Of
delaware entitled, AN ACT TO
AUTHORIZE MAYOR AND COTTN-
GlL SslL1 OF Laurel TO BORROW NOT
EXCEEDING $780, 100000. AND To
ISSUE BONDS TO SECURE THE
PAYMENT THEREOF, FOR THE
PURPOSE OF EXTENDING SEWER
AND WATER LINES, INSTAI1IlA-
TION OF A NEW WATER WELL
y T II p BROADENING OF
SPRUCE STREET IN THE TOWN
OF LAUREL, passed at the 116th
Session of the General Assembly of
the State of Delaware, Mayor and
Council of Laurel, until twelve o.
clock noon, Eastern Standard Time,
on Tuesday, December 4th, 1851, at
the Office of the Town Clerk, Laurel.
Delaware, will receive sealed propos-
ais for the purchase Of all, but no
part Of, $100,000.00 unregistered cou-
pom Town of Laurel Improvement
Bonds, Series of 1852, in denomina-
tions of $1,000.00 each. bearing date
January /, 1852, numbesed consecu-
lively, exempt from all State, county
or municipal taxation, interest pay
able semi-annually on the first day
OF July and January of each year
thereafter until the maturities or date
fixed for redemption, principal and
interest payable either at the Sussex
Trust Company, Laurel, Delaware, or
The Peoples National Bank of Lau-
rel, Laurel, Delaware.
Four (4) of the bonds, aggregating
$4,00O.OO, will be due and payable on
the first day of January, 1856, and a
like number and amount of said bonds
will be due and payable on the first
day of January in each year there.
after, for twenty-four (24) cOnsec-
utiVe years.
The bonds will be redeemable at
the option, of Mayor and Council OF
Laurel at par and cacrued interest at
any interest paying date after ten
(l0) years from the date of the bonds
upon notice designating the bonds to
be called, beginning always with the
lowest number, interest to cease from
the date named for payment; the no.
tice to be published once each week
for two consecutive weeks i'm a news
paper published in the Town of Lau-
rel
The borrowing of $1OO, 100000 and
the issuance of the bonds to secure
the payment have been approved by
the qualified voters of the Town OF
Laurel at a special Election held on
October II, 1851; and the faith and
credit of Mayor and Council of Laurel
are pledged for the due payment of
the principal and interest of the
bonds.
Bidders are requested to state the
rate of interest the bonds shall beal
at par, which must not exceed fOul
| 14So) percentum per annum, and
must be stated in a multiple of one
| eighth of one percent applying to the
/ entire issue.
Bids must he accompanied by Z
certified or cashiers check of re
spOnsible bank or trust company pay.
able to Mayor and Council of Laurel
| Laurel, Delaware, for FIVE (5Po) per
i centum of the principal Of the entir
issue, the checks of unsuccessful bid
: ders to be returned promptly.
| The right is reserved to waive tn
} failure by any bidder to comply wit
2 any provisions of this note, and t
{ reject any or all bids.
Subject to the provisions that tn
bonds shall not be sold at less tllal
F. face value, and all other provision
I of this notice, the bonds viii b
: awarded to the bidder stating the bes
J offer, consideration being had to tn
interest rate stated and the price OF
fered
Further information may be oh
II tanned from William T. Bennett, Tow
III Clerk of the Town of Laurel, Laurel
) Delaware, or from Daniel ]. Layton
8 ESQUIRE, attorney for Mayor am
t Council of Laurel
t HAROLD ID. PHILLIPS,
President of Mayor and Coun
t Gil of Laurel, Laurel, Dela
: ware. Al-lu-