Evening star., 1961-08-02
PROPOSALS
S500.O0O.00

SHARL COUNTY, MARYLAND.
BONDS OF CHARLES coUNTY
OF 1861. Sealed bids will be re-
ceived by the County Commission
ers of Charles County in their
offices in the Court House, La
Plata, Maryland, until 1l:OO
O'Clock am, Eastern Daylight saw
-tngS Time, on Wednesday, August
.S500,0O0.00 aggregste par value
serial maturity general obligation
coupon bonds of said County Com
misSioners OF Charles County,
dated September /, 1861, and all
bearing interest payable semi
annually on the lSt days Of March
and September in each year until
the maturity thereof. The bids will
be opened in said offices immedi-
ately after said time and the
award will be made in said offices
on the same day. The bonds will
. be in the denomination OF Sl,OOu
. each and will mature in numerical
order in each year on September
1 as follows: 100000 in each OF
the years 1852 to 1866, inclusive;
$40. 900 in each of the years 1857
to 1875, inclusive; and will bear
interest at such rate or rates not
exceeding 4eo per annum as are
specified in the successful bid.
Both the principal Of and interest
on the bonds will be payable at the
principal office OF Mercantile-Sate
Deposit and Trust Company. Bal
tinore. Maryland, in any coin or
currency OF the United States Of
America, which. at the respective
dates Of payment thereof, is legal
tender for the payment OF PUBLIC
and private debts. The bonds will
be issued subject to registration
az to principal only by said Mer-
camille safe Deposit and Trust
Company, as Registrar. None OF
the bonds may be redeemed
prior to maturity. The proceeds
Of the bonds will be used for
alteration. remodeling and eauip-
ping Of schools in Charles County.
Bidders are requested to name
the interest rate or rates
to be borne by the bonds, not ex-
ceedins 41o per annum. in multi
pies of hsth or 1l0th of 1eo
and each bidder must specify in
his bid the interest rate for the
bonds Of each maturity. Bidders
may specify more than one in
terest rate to be borne by the
bOhN1p bub may hbb oPNNAs
than one interest rate for the
bonds Of any one maturity. The
bonds will be awarded to the bid
der offering to purchase the
bonds at the lowest interest cost
to the County, such cost to be
determined by deducting the total
amount of the premium paid. II
any, from the aggregate amount
of interest upon all Of the bonds
Il -
crued interest to the date of de-
livery will be entertained. No
bid for less than all of the $780,
100000 Of bonds now offered will
be accepted. If two or more re-
sponsible bidders have made bids.
each Of which is the highest at
the lowest interest cost, then such
bonds may be awarded in a rata
sponsible bidders, but if this
County Commissioners of Charles
County may determine to which
said bidders said bonds will
be awarded Bids must be for
cash upon delivery, and must be
enclosed in sealed envelope, ad-
dressed to the County Commits
sioners of Charles County. and
Inu9I UE lUulEdlFO OIL lIlF
outside Of the envelope; Bid for
School Construction Bonds OF
Charles County of 1851" Each
bid must be accompanied by GER
titled check upon. or treasurer
or cashiers check off, a respSnsi-
Bile banking institution, drawn TO
the order Of the Treasurer of
Charles County Maryland, In the
amount of $4,000, as guaran-
tee of good faith, to BE- forfeited
as LIQUID ated damages by the sue
take UP and pay for the bonds
when ready, Checks deposited by
unsuccessful bidders will be re-
turned to them when the bonds
are awarded to the successful bid
der. No interest will be allowed on
the amount of the above required
deposit. The bonds e i'll be issued
Chapter 725 of the Laws of 1857
of Maryland, and pursuant to the
initial resolution Of the Board of
County Commissioners of Charles
County and final resolution of
said Board awarding the bonds
and fixing the rate or rates o.
interest. No conditional bid will
be accepted unless such condition
is waived by the bidder to the sat-
LsldCtlol VI Ile i2OSlu pt COuNly
before opening Of the bids. A bid
conditioned upon sorroval of the
bidder or Of counsel whether
named or unnamed. will be regard-
ed as q conditional biz. The fun
faith and credit Of the County
Commissioners Of Charles County
has oeen irretccably pledged to
the, payment Of the principal OF
n hA ~ =
The County is directed by the En-
ablins Act annually to levy ad
valorem taxes upon sll property
subject to assessment for unlimited
. taxation within the County suffi-
cient in rae and amount to nay
the principal OF and the interest
on the bonds as they respectively
become due and nayable. Under
existing law, these bonds are ex-
nicipal taxation in the State of
Maryland, and in the opinion of
Bond Counsel. on tue basis OF eX-
iSting Hesitation, the interest
thereon will be exempt from Fed
be delivered to the purchaser
within reasonable time after the
sale thereof, at the office of the
County Commissioners of Charles
County, La Plata. Maryland or at
any incorporated bank or trust
company in the City Of Baltimore.
Maryland, without expense to the
purchaser; If the purchaser shall
specify any other place of delivery,
such delivery wiz be made at the
expense Of the purchaser. The
County Commissioners Of Charles
County reserve the right to reject
any and all 5ics The legality
OF this issue will be approved by
Messrs. Piper e. Marbury. Bait
more. Maryland, Bond Counsel
and Louis P, Jenkins, ESQUIRE,
Counsel 10 the County Commits
Sioners Of Charles County. La
Plata, Maryland, and the approv-
ing legal opinion Of said attorneys
accompanied by the usual closing
papers. will be delivered to the
purchaser without chsrse. Perti-
nent information concerning the
finances OF Charles County and
other appropriate data will be fur
ntshed upon request by B d.
Morgan. Clerk to the Board of
County Commissioners of Charles
County, Court House, La Plata.
Maryland. JOHN L. SULLIVAN.
Chairman and President; W. Ed
WARD BERRY, JOHN S. COOK
eEY,, County Commissioners Of
Charles County. au2,9