Milford chronicle., 1957-05-03
EOTICE OF SALE
Lincoln School District No. 3,
In Sussex County, Delaware
$4,000 SERIAL SCHOOL BONDS
OF 1867

Lincoln School District No. 3,
in the County of Sussex and State
of Delaware, hereby invites sealed
bids for the purchase of its bonds,
hereinafter described. The Board
of School Trustees of the School
District will receive such bids at
the present Lincoln School Build
ing, Lincoln, Sussex County, Della
ware, until 1880 o'clock p. M. (Eas-
tern Standard Time) on Monday,
May 13, 1857, and will, at such place
and time, publicly open and an
nounce and consider the bids re-
ceived. Bids submitted through the
mail should be addressed as fol-
lows: "Mr. Solomon Markowitz,
Clerk of Board of School Trustees,
Lincoln School District No. 3, Lin
coin, Delaware"
The bonds consist of $4,000 Ser
ial Bonds of 1857, dated June 1,
1867, and payable in serial INSTALL
ments on June 1 in each year as
follows: $4,000 in each of the
years 1853 to 1875, inclusive, and
$4,000 in the year 1875. The bonds
will bear interest at not exceeding
SO per annum and the interest
will be payable semi-annually on
June / and December 1. The bonds
are coupon bonds, not subject to
registration and will be of the de-
nomination of $1,000. Principal and
interest are payable at the Farm
ers' Bank of the State of Delaware,
in Georgetown, Delaware.
No bid for less than all of the
bonds will be considered. Bidders
should specify in their bids the
rate of interest per annum which
the bonds are to bear and the rate
named must be a multiple of one
eighth of one per centum. The
price offered for the bonds must
not be less than $4,000 and ac-
crued interest. The bonds will be
awarded to the bidder whose bid
specifies the lowest rate of inter
est, without regard to premium,
and if two or more bidders specify
the same lowest rate of interest,
the bonds will be awarded to that
one of such bidders who offers the
largest premium. The right is re-
served to reject all bids and any
bid not complying with the terms
of this notice will be rejected.
The District is authorized and
required by law to levy on all real
property taxable by the School
District such ad valorem taxes as
may be necessary to pay the bonds
and the interest thereon without
limitation as to rate or amount.
The Bonds will be exempt from
taxation, with respect to both prin
cipal and interest, by the State of
Delaware or any political subdivis-
ion thereof, for any purpose.
Each bid must be accompanied
by a certified or bank cashiers or
treasurer's check or checks for
S2,S00 drawn upon an incorporated
bank or trust company and pay
able to the order of the School Dis
trict to secure the School District
against any loss resulting from a
failure of the bidder to comply
with the terms of his bid.
Checks of unsuccessful bidders
will be returned upon the award
of the bonds.
The approving opinion of Messrs.
Reed. Hoyt, Taylor & Washburn, of
New York City. will be furnished
to the purchaser without cost.
Further information may be OBJ
taiaed from the undersigned or
Houst0a Wilson, Esquire, of
GeorgetOwE Delaware. attorney
for the Board.
SOLOMON NARROWLY
Clerk of Board of School Trus-
tees, Lincoln School District
No 8, Lincoln, Delaware
Dated April u, 1857. 5-3-2t