網頁圖片
PDF
ePub 版

OF THE LEVY COURT.

forth in act

To be used for for the purpose of constructing the said two draw bridgpose than set es; and provided further that the purchasers or holders

of said bonds shall not be bound to see to, or be affected by, the application of said money realized from the sale of said bonds, and provided, further, that any sum which may remain of such funds after the payment of the cost

of construction of said two draw bridges and the expensbe used in pay-es of preparation of said bonds as aforesaid, shall be edness of sus- used in the extinguishment of the bonded indebtedness sex County

of Sussex County.

Any residue

Form of bond

Section 7. The bonds to be issued may be in the fol. lowing form, to wit:

[ocr errors]
[blocks in formation]

Sussex County in the State of Delaware, for value received, hereby acknowledges its indebtedness and promises to pay to the holder of this bond, at the Farmer's Bank at Georgetown, on the ..

day of

-A. D. 19.--, the sum of Five Hundred Dollars, with interest thereon at the rate of per centum per annum, pay. able semi-annually on the ------ day of and the day of

-

in each year. This bond is one of the authorized issue of sixty bonds aggregating thirty 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 Sussex County to borrow not more than thirty thousand dollars to be expended in the construction of two draw bridges over the proposed canal

OF THE LEVY COURT.

connecting Rehoboth Bay and Delaware Bay," and in pursuance of a resolution of the Levy Court of Sussex County, adopted --

A. D. 19.--. It is hereby certified that this bond is one of the issue authorized by the above recited Act of the General Assembly and that the faith and credit of said Sussex Coun ty are pledged for the punctual payment of the principal and interest of this bond according to the tenor thereof.

In Witness Whereof the County Treasurer, President of the Levy Court and Clerk of the Peace, of Sussex County, have hereunto set their hands and the seal used by the Levy Court of Sussex County, at Georgetown, Delaware, this

day of

A. D. 19.--.

County Treasurer of Sussex County.

President of the Levy Court of Sussex County.

Clerk of the Peace of Sussex County.

to meet re

The Levy Court of Sussex County may, if it deem it ad - Levy Court visable, modify the said form of bond to meet the re-form of bond quirements or conveniences of the purchasers thereof, quirements provided that nothing therein contained shall be in conflict with the provisions of this Act, or in excess of the authority hereby conferred upon said Levy Court. Said bonds shall contain such other provisions in addition to those herein set forth, and not inconsistent with the requirements of this Act, as said Levy Court shall deter

mine.

Clerk of

Section 8. The said Clerk of the Peace shall, in a book Duties of to be provided by him for that purpose, make an accu- Peace rate record showing. each series of said bonds, with their numbers and denominations respectively. Whenever any of said bonds shall have been paid by the said County Treasurer, or any of said coupons shall have matured

OF THE LEVY COURT.

and been surrendered to him, he shall immediately file the same in the office of the said Clerk of the Peace, who shall note the same upon the record of the bonds and coupons so paid and matured and shall give to the said Corinty Treasurer a receipt therefor, stating the series, number, date and denomination of such bonds and coupons, which receipt shall constitute a good and sufficient voucher for said County Treasurer for the sums therein named.

Approved March 19, A. D. 1913.

OF THE LEVY COURT.

CHAPTER 52.

OF THE LEVY COURT.

AN ACT Authorizing and Directing the Levy Court of Sussex County

to Borrow on the Credit of the County a Certain Sum of Money
not Exceeding Thirty-five Thousand Dollars in Order to Provide
for the Repair and Improvement of the Sussex County Court
House.

Court to

to improve Sus

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That the Levy Court of Sussex County be, borrow money and it is hereby, authorized and empowered to borrow io pepair and upon the faith and credit of said county, as hereinafter sex County provided, a sum not exceeding Thirty-five Thousand Dollars to be expended in the repair and improvement of the Sussex County Court House, and, for the purpose of securing the payment of such sum, to issue bonds in the denomination of Five Hundred Dollars each, bearing such rate of interest, not exceeding five per centum per interest 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 the issue thereof.

[ocr errors]

Rate of

Section 2. Said bonds shall be divided into ten classes Classes of and shall be paid at their face value as follows:

years of maturity

[blocks in formation]

OF THE LEVY COURT.

F.
G.
H.
I.
J.

_$3500_-
_$3500
$3500.
$3500.
_$3500_

1928 1929 1930 1931 1932

May be re

by

ter five years

Said bonds may at the option of the Levy Court conLevy court af- tain a provision for the redemption thereof by the Levy

Court at any time after the expiration of five years from the date hereof, at a premium not to exceed five per cent

um.

Signatures on bonds

Section 3. Said bonds shall be prepared under the supervision of the Levy Court Commissioners, and shall be signed by the County Treasurer, the President of the Levy Court of Sussex County, and the Clerk of the Peace of said County, and shall be under the seal used by the Levy Court of Sussex 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 County Treasurer and the Levy Court to keep a record of said bonds.

Bonds exempt from certain taxes

Said bonds shall be exempt from state, county, municipal and other taxation, and the purchaser of said bonds shall not be obliged to see to or in any manner be responsible for the application of the purchase money.

To be sold by resolution of Levy Court

Section 4. Said bonds, or any part thereof, may be sold when and as the said Levy Court Commissioners shall by resolution determine, and until sold shall remain in the custody of the County Treasurer. Whenever in the judgment of the Levy Court Commissioners 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 same in the public

Advertisement for sale of bonds.

« 上一頁繼續 »