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demption thereof by The Board of Public Education in Redemption

proviso Wilmington at any time after the expiration of five years from the date thereof, at a premium not to exceed five

per cent.

Bonds

Section 3. Said bonds shall be prepared under the signatures on supervision of The Board of Public Education in Wilmington, and shall be signed by the President of The Board of Public Education in Wilmington, the City Treasurer of Wilmington, and the Secretary of said Board, and shall be under the corporate seal of the Board of Public Education in Wilmington. It shall be the duty of such officers to execute said bonds when directed to by The Board of Public Education in Wilmington, and it shall be the duty of the City Treasurer of Wilmington and the Secretary of The Board of Public Education to keep a record of said bonds.

Section 4. Said bonds, or any part thereof, may be To be sold by sold when and as The Board of Public Education in Wil-Board of Pubmington, shall by resolution determine and direct, and in Wilmington until sold shall remain in the custody of the City Treasurer of the City of Wilmington. Whenever in the judgment of The Board of Public Education in Wilmington it shall be deemed expedient that any part or all of said bonds shall be sold, the said The Board of Public Education in Wilmington may sell and dispose of the same on the most advantageous terms possible after having advertised the same in the public press at least once each week for at least two weeks. No commission or xo compensaother compensation shall be charged by or paid to any tion bllowed member of The Board of Public Education in Wilming- Beard on sale ton for effecting the sale or negotiation of said bonds.

Section 5. Said bonds, principal and interest shall be paid at the Union National Bank of Wilmington in gold Principal and coin of the United States of America equal in weight and 'nion Nation

al Bank

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ing due

fineness to the present standard, out of money appropriated for that purpose by The Board of Public Education in Wilmington, as hereinafter provided; and the said The Board of Public Education in Wilmington is hereby authorized and directed to pay the interest on said bonds to the Union National Bank, in Wilmington when and as the same shall become due and payable, and to pay said bonds when and as the respective classes mature in accordance with the foregoing schedule. The said The

Board of Public Education in Wilmington shall annualSchedule for ly, until the first installment of said bonds shall become bondo becom- due and payable, provide for and set aside from any

money appropriated to its use by the City Council of Wilmington, an amount equal to the amount of interest due each year on said bonds, and as and when said bonds mature and become due and payable, shall in like manner provide for and set aside an amount equal to the amount of such bonds in addition to the amount necessary to pay the interest on the unpaid bonds as before provided, which shall when collected, be set aside in a separate account to be opened for that purpose, and the said The

Board of Public Education in Wilmington, shall apply tadual funds the said sum annually to the payment of such part of

said loan and interest thereon as may from time to time become due and payable under the provisions of Section 2 of this Act.

To set aside money out of

Number and date of bonds

Section 6. All of said bonds shall bear the same date and shall be numbered from one to eighty inclusive. All money received from the sale of any or all of said bonds, after the payment of the charges and expenses connected with the preparation and sale thereof, shall be deposited by The Board of Public Education in Wilmington at the Union National Bank in Wilmington to the credit of The Board of Public Education in Wilmington, and payments therefrom shall be made in the same manner as other payments by the said The Board of Public Education in

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Wilmington, provided that no part of the money so ob- Money to be tained except as in this section provided shall be used tain purposes for any other purpose than for the purchase of ground and erection and equipment of Public School Houses in the City of Wilmington; and provided further that the purchasers or holders of said bonds shall not be bound to see to, nor be affected by, the application of said money realized from the sale of said bonds.

Section 7. The bonds to be issued shall conform as Form of hond nearly as possible to the following form, to wit:

United States of America

State of Delaware.

Class.

Number ---

“The Board of Public Education in Wilmington.'

School Erection and Equipment Bond. $1,000.00

$1,000.00 The Board of Public Education in Wilmington in the State of Delaware for value received hereby acknowledges its indebtedness and promises to pay at the Union National Bank in Wilmington on the

day of A. D. 19.-, the sum of One Thousand Dollars ($1,000.00), with interest thereon at the rate of per centum per annum payable semi-annually on the

day of A. D. 19_-, and in each year. This bond is one of the authorized issue of eighty bonds aggregating Eighty Thousand Dollars ($80,000.00), by virtue of and in strict compliance with an act of the General Assembly approved A. D. 1913, entitled, “An Act to authorize The Board of Public Education in Wilmington, to borrow Eighty Thousand Dollars ($80,000.00) to be expended for the erection and equipment of Public Schools in the City of

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Wilmington," and in pursuance to ą resolution of The Board of Public Education in Wilmington, 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 The Board of Public Education in Wilmington is pledged for the punctual payment of the principal and interest of this bond according to its terms.

In witness whereof the President of The Board of Public Education in Wilmington, The City Treasurer of Wilmington and the Secretary of the Board of Public Education in Wilmington have hereunto set their hands and the corporate seal of the said The Board of Public Education in Wilmington is hereunto affixed, this day of

A. D. 19--.

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 the said The Board of Public Education in Wilmington shall determine.

Approved March 10, A. D. 1913.

1

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CHAPTER 111.

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AX ACT in Relation to the Sale of Certain School Property by the

Board of Education of the Town of Harrington.

WHEREAS The Board of Education of the Town of Harrington have recently purchased a site for and caused to be erected thereon a new School building for the consolidated School District formed out of School Districts numbers 94, 126 and 127 in Kent County and State of Delaware; and

WHEREAS the said consolidated School District has no longer any need for the old school building and lot upon which the same now stands, now therefore

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

of

Section 1. That The Board of Education of the Town

Board of Eduof Harrington be and it is hereby authorized to sell the cation of Hace lot, piece or parcel of land, with the improvements there-ized to sell on being, which was conveyed to the said The Board of ground Education of the Town of Harrington by James Sharp and Rachel C., his wife, by their deed bearing date the first day of June, 1883, and of record in the office of the Recorder of Deeds, for Kent County and State of Delaware, in Deed Record Book N, Volume 6, pages 459, and following; the said premises being situated on the east Description of side of Dorman Street, in the town of Harrington, Kent County and State of Delaware, and being the same wiich were used for school grounds and school building prior to the recent erection of the new school building in the

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