Milford chronicle., 1951-11-23
SALE OF s1OO,OOO.OO TOWN OF
LAURE IMPROVEMENT BONDS
Series Of 1852

Under the provision of an Act of
the General Assembly of the State of
Delaware entitled, IAN ACT TO
Gil OF LAUREL TO BORROW NOT
EXCEEDING $100,O00.00, AND TO
ISSUE BONDS TO SECURE THE
PAYMENT THEREOF, FOR THE
PURPOSE OF EXTENDING SEWER
AND WATER LINES, INSTALLA-
TION OF A NEW WATER WELL
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, S100,000.00 unregistered cou-
pom Town of Laurel Improvement
Bonds, Series of 1852, in denOmina-
January /, 1852, numbered 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
Il
| The Peoples National Bank of Lau-
rel, Laurel, Delaware.
! Four (4) of the bonds, aggregating
! $4,000. 90, 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.
I The bonds will be redeemable al
I the option of Mayor and Council OF
Laurel at par and cacrued interest al
any interest paying date after ter
! OO) years from the date of the bonds
upon notice designating the bonds tC
be called, beginning always with the
I lowest number, interest to cease from
the date named for payment; the no.
tice to be published once each weeI
for two consecutive weeks in a news
, paper published in the Town of Lau
rel.
The borrowing of $l0O, 100000 ant
the issuance of the bonds to secure
the payment have been approved b!
the qualified voters of the Town o
l Laurel at a special Election held OF
October II, 1851; and the faith ant
credit of Mayor and Council of Laure
are pledged for the due payment o
the principal and interest of tn
bonds.
Bidders are requested to state tn
rate of interest the bonds shall bea
!, at par, which must not exceed foU
. (4Fo) peEcentum per annum, an
must be stated in a multiple of one
eighth of one percent applying to tn
entire issue.
Bids must be accompanied by
n certified or cashiers check of a re
Y sponsible bank or trust company pay
! [ able to Mayor and Council Of Laur6
y Laurel, Delaware, for five (5%) pei
centum of the principal of the entil
| issue, the checks of unsuccessful bic
y ders to he returned promptly.
The right is reserved to waive u
i failure by any bidder to comply wit
= any provisions of this note, and
! reject any or all bids.
i Subject to the provisions that u
:; bonds shall not be sold at less tina
q face value, and all other provision
: of this notice, the bonds will
Is awarded to the bidder stating the be
- offer, consideration being had to Il
IL interest rate stated and the price
y fered. -,
le Further information may be Ol
n tanned from William T. Bennett, Tow
Clerk of the Town of Laurel, Laur'
Delaware. or from Daniel J. Layto
Fsduire, attorney for Mayor al
y Council of Laurel
D. HAROLD d. PHILLIPS,
IN President of Mayor and Cou
or Gil of Laurel, Laurel, Del
OS ware. A4-AO