Milford chronicle., 1961-04-14
NOTICE OF SALE
Lincoln School District No. 3,
In Sussex County, Delaware
Si,000.00 Serial School Bonds
of 1861

Lincoln School District No. 3, in
Sussex County, 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 Building, in Lincoln, Sus-
sex County, Delaware, up until
1880 o'clock p. NJ. Eastern Stand
ard Time, on Monday, April "a,
1861, and will, at such time and
place, publicly open and announce
and consider the. bids received.
Bids submitted through the mail
should be addressed as follows:
''Mr. Clyde NJ. Davis. Clerk. Board
of School Trustees, Lincoln School
District No. 3, Lincoln, Delaware. :"
The bonds consist of 100000
Serial Bonds of 1861, dated June /,
1861, payable in serial installments
on June l of each year, as follows:
$4,000 in each of the years 1862 TO
1881, both inclusive. The bonds will
bear interest at not exceeding $50
per annum and the interest will be
payable semi-annual1y on June /
and December /. The bonds are
coupon bonds. not subject to regis
tration and will be of the denom-
ination of $4,000. Principal and in
terest are payable at The Farmers
Bank of the State of Delaware. in
Georgetown, Delaware.
No bid for less than all of the
bonds will be considered. Bidders
shall 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 100000 and ac-
crued interest. The bonds will be
awarded to the bidder whose bids
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 upon 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
principal and interest, by the State
of Delaware, or any political sub
division thereof, for any purpose.
Each bid must be accompanied
by a certified or bank cashiers or
treasurer's check or checks for
$4,000 drawn upon an Incorporated
bank or trust company and payable
to the order of the School District
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 Hous-
ton Wilson, Esquire, Attorney-at-
Law, of Georgetown, Delaware, will
be furnished to the purchaser with
| out cost.
Further information may be OBJ
tanned from the undersigned or
Houston wilson, Esquire, of
Georgetown, Delaware, Attorney
| for the Board of School Trustees.
Dated April II, 1861.
CLYDE NJ DAVIS,
Clerk, Board of School
Trustees, Lincoln School
District No. 3, Sussex
! County, Delaware.
/ 1A-Of