Smyrna times., 1951-01-11
PROPOSAL FOR BIDS
for
s240,00o. SMYRNA SPECIAL school
DISTRICT BONDS, SERIES OF 1851

for
s240,00o. SMYRNA SPECIAL SCHOOL
DISTRICT BONDS, SERIES OF 1851
Sealed proposals. will be received by the
Board of Education of Smyrna Special
School District at the office of the Secre-
tary of the said Board at John Bassett
Moore High School, on Frazier St., in the
Town of Smyrna, Kent County, Delaware,
until o'clock PM. eastern Standard
Tmel, on Wednesday: the, 18th. day of
January, AID. 1851, for the purchase of
S240,00O. of bonds of Smyrna Special
School District. Series of 1851, and at
said time and place the sealed proposals
will be publicly opened by the Board of
Education of said District.
Said bonds shall bear date of February
l5, AID. 1851 and the said issue shall
consist of 24O bonds. each of the denom-
ination of $1,000. Said bonds shall be
coupon, bearer bonds and shall be num-
bered consecutively beginning with No. l
and ending with No. 240, and ten (1O)
of said bonds of $1,000. each and num-
bered from l to 10 inclusive shall be due
February is. AID. 1852 and ten C1O) of
said $1,000 bonds, in consecutive order,
shall be due each February 18th. there
after, so that bonds in the amount of
$4,000. shall be due each February 18th.
as aforesaid, beginning in 1852 and end
ing in 1876. No bonds of said Series of
Interest on all of said bonds shall be
due and payable semi-annually on each
August 18th. and February 18th. of each
and every year during the term of said
bonds. Both principal and interest of said
bonds shall be due and payable at the
Farmers Bank, Dover, Delaware.
/. The faith and credit of Smyrna Special
School District are pledged for the pay
ment of the principal and interest of said
bonds and said bonds shall be exempt
lfrom taxation with respect to principal
and interest by the State of Delaware, or
amy political subdivision thereof, for any
purpose.
/ Bids shall state the price bid for the
isaid bonds which shall not be less than
$240, 900. and bids shall state the rate of
interest the bonds are to pay, but inter-
est rate must be a multiple of II of Igo
Bids may be submitted for the whole or
lany part of said issue. Each proposal
must be accompanied by a certified check
payable to the order of said Board of
Education for five (59o) per centum of
the amount of the proposal. otherwise the
proposal cannot be considered. The bonds
Twill be awarded to the bidder whose bid
specifies the lowest rate of interest, with
out regard to premium, but if two or
smore bidders specify the same lowest rate
Iof interest. the bonds will be awarded to
the bidder offering the highest premium.
The certified checks of all unsuccessful
Will De returned upon
ssaid Board of Education rejecting all bids
Jor accepting one or more of the bids. and
the check or checks of the successful bid
der or bidders will be retained by said
Board of Education on account of the pur-
hchase price or prices for said bonds and
an event of noncompliance of the success
full bidder or bidders. time being of the
gessence. said $50 deposit or deposits shall
be retained by said Board of Education
as ascertained and liquidated damages.
Settlement by the successful bidder or
bidders shall be made at the Office of
Charles l.. Harmonson, attorney for said
Board of Education. at 1917 Dover Green,
Dover Delaware, or at the Farmers Bank,
Dover, Delaware, at the option of the sue
cessful bidder or bidders, at 2 O'Clock p m.
i Eastern Standard Time), on Thursday,
February Is, 1851. The settlement balance
shall be then paid by certified check pay
able to the order of the Board of Education
of said District, and duly executed bonds
will be delivered to the successful bidder or
bidders at said time and place of settle
ment.
' The approving opinion of Messrs. Reed,
iHoyt and Washburn of New York City
will be furnished to the purchaser or pur-
chasers without cost.
All bids shall be addressed and /or de-
livered to George w. Wright, Secretary of
said Board of Education, John Bassett
Moore High School, Frazier St., Smyrna,
Kent county, OeldWAres
! The said Board of Education expressly
reserves the right to reject any and all
proposals for said bonds and without re-
strictions may accept any proposal or pro-
posals which said Board of Education
deems beneficial to said Smyrna Special
School District. The said bonds shall be
issued under the authority of an Act en-
titled IAN ACT TO AMEND CHAPTER
III, REVISED CODE OF DELAWARE,
1895, RELATING TO FREE PUBLIC
SCHOOLS, AUTHORIZING THE AC-
lQUISITTON OF LANDS AND BUILD
fINGS THEREFOR, AUTHORIZING AND
REGULATING THE ISSUANCE OF
BONDS FOR SUCH PURPOSES. PRE-
SCRIBING A NEW LIMIT UPON THE
AMOUNT OF SUCH BONDS WHICH
MAY BE ISSUED, AND PROVIDING
FOR THE MAKING AND KEEPING OF
RECORDS IN RELATION TO SUCH
lBONDS," passed at the Second Special
Session of the 115th. General Assembly,
approved November 4, 1919, and said bond
issue having been approved by the State
Board of Education of the State of Della
ware and the State School Building Pro
gram Board and also the issuance of said
bonds having been duly approved and
authorized by the affirmative action of the
qualified voters of Smyrna Special School
District by referendum election as provid-
led bv statute and which election was duly
kcertified to and approved by the. State
board of Education of the State OF Della
ware.
BOARD OF EDUCATION
OF SMYRNA SPECIAL
| SCHOOL,, DISTRICT