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OF THE LEVY COURT.
UNITED STATES OF AMERICA.
STATE OF DELAWARE.
New Castle County Highway Improvements.
New Castle County in the State of Delaware, for value received, hereby acknowledges its indebtedness and promises to pay to theholder of this bond at the Farmers' Bank at Wilmington, on the
day of A. D., 19 , the sum of One Thousand Dollars with interest thereon at the rate of per centum per annum, payable semi-annually on the day of
in each year. This bond is one of the authorized issue of two hundred bonds aggregating two hundred thousand dollars, by virtue of and in strict compliance with an Act of the General Assembly of the State of Delaware, approved A. D. 1913, entitled “An Act to authorize the Levy Court of New Castle County to borrow Two Hundred Thousand Dollars to be expended for the permanent improvement of public highways in New Castle County under the provisions of Chapter 139, Volume 23, Laws of Delaware entitled, “An Act to provide for the repeal of Chapter 380, Volume 22, Laws of Delaware, being an Act entitled “An Act to provide for the permanent improvement of the public highways in New Castle County, Delaware,” and in pursuance of a resolution of the Levy Court of New Castle County, adopted
A. D. 19 .
It is hereby certified that this bond is one of the issue
OF THE LEVY COURT.
authorized by the above recited Act of the General Assembly and that the faith and credit of said New Castle County are pledged for the punctual payment of the principal and interest of this bond according to the terms.
IN WITNESS WHEREOF, the County Treasurer, President of the Levy Court and Clerk of the Peace, of New Castle County, have hereunto set their hands and the seal used by the Levy Court of New Castle County, at the City of Wilmington, in Delaware, this day of
A. D. 19. ----
County Treasurer of New Castle County. President of the Levy Court of New Castle County.
Clerk of the Peace of New Castle County.
Section 8. Said bonds shall contain such provisions in addition to those set forth in Section 7 of this Act, and not inconsistent with the requirements of this Act, as said Levy Court shall determine.
Approved March 21, A. D. 1913.
AN ACT to authorize the Levy Court of New Castle County to borrow
Twenty-five Thousand Dollars to alter, change, repair, and transform the Old Baltimore and Ohio Railroad Bridge over Brandywine Creek, in Wilmington, into a bridge suitable for General Public Travel.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met :
Levy Court of
Levy Court of Section 1. That the Levy Courtof New Castle County County to bor- be and is hereby authorized and empowered to borrow alter and repair upon the faith and credit of said County, as hereinafter R. Bridge over provided, a sum not exceeding Twenty-five Thousand
Dollars to be expended in altering, changing, repairing, and transforming into a bridge for general public travel, the old Baltimore and Ohio Railroad Bridge over Brandywine Creek, at or near Dupont Street, in the City of Wilmington, and for the purpose of securing the pay
ment of such sum to issue bonds in denominations of One Rate of inter- Thousand Dollars each, and bearing such rate of interest
not exceeding four and one-half per centum per annum, as said Levy Court may deem expedient. The interest upon said bonds shall be payable semi-annually in each and every year from the date of issue thereof.
Rate of interest of bonds
Three classes of bonds
Section 2. Said bonds shall be divided into three classes and shall be paid at their face value, as follows:
Amount. Year of Maturity. A. -$10,000
1951. C. ----$ 5,000---
1952. May be re- Said bonds may, at the option of the Levy Court, conLevy Courtare tain a provision for the redemption thereof by the Levy
after five years
OF THE LEVY COURT.
Court at any time after the expiration of five years from the date thereof, at a premium not exceeding five per centum.
Section 3. Said bonds shall be prepared under the Signatures supervision of the Levy Court Commissioners and shall be signed by the County Treasurer, the President of the Levy Court and the Clerk of the Peace of New Castle County, and shall be under the seal used by the Levy Court of New Castle County. It shall be the duty of such officers to execute said bonds when directed by the Levy Court to do so, and it shall be the duty of the Coun-Record to be ty Treasurer and the Levy Court to keep a record of said bonds.
kept of bonds
To be sold by resolution of
bonds to mem
Section 4. Said bonds or any part thereof may be To be sold by sold when and as the Levy Court shall by resolution de-Levy Court termine and until sold shall remain in the custody of the County Treasurer. Whenever in the judgment of the Levy Court it shall be deemed advisable that any part or all of said bonds shall be sold, said Levy Court Commissioners may sell and dispose of the same on the most advantageous terms possible after having advertised the Advertisement same in the public press at least once each week for at least two weeks. No commission or other compensation
"No commission shall be charged or paid to any member of the Levy for sale of Court for affecting the sale or negotiation of said bonds.bers of Levy
Section 5. Said bonds, principal and interest, shall be payable at the Farmers' Bank at Wilmington, Delaware, in gold coin of the United States of America, equal in Bonds, where weight and fineness to the present standard, out of the money from time to time appropriated for that purpose by the Levy Court of New Castle County as hereinafter provided; and the said Levy Court is hereby authorized and directed to pay the interest on said bonds to the Farmers' Bank when and as the same shall become due, Levy Court to and pay said bonds when and as the respective classes bonds to Far
evy Court to pay interest on
OF THE LEVY COURT.
bers of bonds
mature in accordance with the foregoing schedule. The said Levy Court in fixing the rate of taxation shall annually, until the first installment of said bonds shall become due and payable, provide for a sum equal to the amount of interest due each year upon said bonds, and as and when said bonds shall become due and payable, shall in like manner provide for a sum equal to the amount of such bonds in addition to the amount necessary to pay the interest upon the unpaid bonds as before provided, which shall, when collected and paid to the County Treasurer be set apart by him in a separate account to be opened for that purpose; and the said County Treasurer shall apply the said sum annually to the payment of such part ofsaid loan and interest thereon as may from time to time become due under the pro
visions of this Act. Date and num- Section 6. All of said bonds shall bear the same date
and shall be numbered from 1 to 25 inclusive. All money received from the sale of any or all of said bonds, after
the payment of the charges and expenses connected with Expense ofn to the preparation and sale thereof, shall be deposited by
the County Treasurer in the Farmers' Bank at Wilmington to the credit of the Levy Court of New Castle County in a separate account, and payments thereof shall be made in the same manner as other payments by said
Levy Court; provided that no part of the money thus obbe tained, except as in this section provided, shall be used s for any other purpose than for altering, changing, repairing, and transforming the old Baltimore & Ohio Railroad Bridge over Brandywine Creek, in Wilmington, into a bridge suitable for General Public Travel; and provided further that the purchasers or holders of said bonds shall not be bound to see to or to be affected by the appli
cation of said money realized from the sale of said bonds. Form of bond Section 7. The bonds to be issued shall be in the fol
preparation to be paid out of sale
Money to be used for no other purposes than set forth in act