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OF FREE SCHOOLS.
To be sold at private or publio salo
Board may acoept mortgage
Title to plot when sold
consolidated District aforesaid, and being more particu
larly described in the deed aforesaid. To be sold at Section 2. The sale of the property aforesaid shall be
either at public or private sale, and upon such terms as the said The Board of Education of the Town of llar
rington shall deem best. Board may ac- The said Board is further authorized to accept a bond
and mortgage, or other evidence of indebtedness, in part payment of the purchase price of such property if the said Board shall deem it advisable, so to do.
Section 3. The said The Board of Education of the Town of Harrington is hereby authorized to convey to the purchaser or purchasers of the property aforesaid a good and merchantable title or estate in fee simple to said property, and the deed of the said The Board of Education of the Town of Harrington shall be deemed sufficient for this purpose. The signing of the name “The Board of Education of the Town of Harrington” by the President of the Board and the acknowledgment by said President shall be deemed to be an execution and acknowledgment of said deed by The Board of Education of
the Town of Harrington. No liability on Section 4. There shall be no liability on the part of
any purchaser of the property aforesaid for the applica
tion of any of the proceeds of the sale thereof. Proceeds Section 5. The proceeds of the sale of the property
aforesaid shall be applied by the said The Board of Education of the Town of Harrington toward the payment of the indebtedness incurred in and by the erection and equipment of the new school building hereinbefore referred to.
Section 6. This Act shall be deemed and taken to be a public Act.
Approved February 24, A. D. 1913.
part of purchaser
OF FREE SCHOOLS.
OF FREE SCHOOLS.
AN ACT to Authorize and Empower "The Board of Commissionars
of the Public Schools of Georgetown, Sussex County," to Procure a Site, Borrow Money to pay for the Same and Erect Thereon a New High School Building, to Issue Bonds to Secure Said Loan, to Refund the Outstanding Floating and Bonded Indebtedness and to Lovy a Tax to Pay the Said Bonds.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
borrow not ex
Section 1. That “The Board of Commissioners of the Georgetown Public Schools of Georgetown, Sussex County", and missioners to their successors in office are hereby authorized and em-ceeding twenty powered to borrow, at its discretion, a sum of money not lars to exceed twenty thousand dollars, for the purpose of procuring a site and erecting and constructing thereon a high school building, fully to complete and furnish the To erect a high same, in the corporate districts Numbers 67, 96, 106 and 107, Sussex County, for school purposes, and establish an adequate and modern heating plant therein, and refunding the outstanding floating and bonded indebtedness against said districts.
Section 2. That the said Board of Commissioners be Commissionera and it is hereby vested with full power and authority to bonds in de issue and sell, for the purpose of carrying into effect the they deterprovisions of this Act, its bonds to an amount not exceeding the sum of twenty thousand dollars, of such denominations as may be determined by said Board of Commissioners and in such proportions of such denominations as may be determined by said Board of Commissioners, which said bonds shall be dated on the first day Date of bond
OF FREE SCHOOLS.
to determine bank
of July A. D. 1913, and numbered consecutively commencing with number one, and shall bear interest from and after that date at such rate as the said Board of Commissioners may determine, not to exceed five per centum per annum, payable annually on the first day of July in each and every year while they remain unpaid,
at such bank or trust company as the said Board of ComCommissioners missioners shall determine, on presentation of the cou
pons representing said annual interest, each annual installment of interest being represented by coupons at
tached to said bonds, the said bonds shall be payable on ayable the first day of July A. D. (1963) one thousand nine hun
dred and sixty-three, but may be redeemed, at the option of the said Board of Commissioners at any time after the
first day of July, A. D. (1923) one thousand nine hunLimit to be dred and twenty-three: Provided, however, that no more
of said bonds than shall amount, in the aggregate, at par value, to the sum of one thousand dollars shall be redeemed by said Board of Commissioners in any one year: And provided further, however, that if the said Board of Commissioners elects to redeem any of said bonds according to their tenor, such redemption shall be effected on the first day of July, and in pursuance of notice signed by the President and Treasurer of the said
Board of Commissioners, published in four consecutive Notice of re issues of two newspapers published in Georgetown, Sus
sex County, such notice shall 'indicate the bonds called and in making the calls the said Board of Commissioners shall call the bonds according to their number, beginning with the lowest number.
Limit to be redeemned annually
demption of bonds
Section 3. That the said Board of Commissioners shall direct and effect the preparation, printing and sale of the bonds authorized by this Act, at such time or times, and on such terms and for such sums, not less than their par value, as they may deem expedient, but that all the money, the proceeds of such sale, shall be ap
OF FREE SCHOOLS.
Form of bond
plied to carrying into effect the provisions of this Act, and the said bonds shall be signed by the President of the said Board of Commissioners and Treasurer of said Board of Commissioners, and shall be exempt from Signatures state, county and municipal taxation, and be denominat-o b ed Georgetown School Bonds, and shall be in the following form:
United States of America.
State of Delaware, United School Districts Nos. 67, 96, 106 and 107, of Form of bond
Georgetown, in the County of Sussex. Number-----
Series-----These presents certify and make known that “The Board of Commissioners of the Public Schools of Georgetown, Sussex County,” is held and firmly bound unto the bearers in the sum of money of the United States of America, which the said Board of Commissioners binds itself to pay to the bearers on the first day of July A. D. one thousand nine hundred and sixty-three, with interest at the rate of per centum per annum, payable on the first day of July in each and every year until the principal be paid, upon the presentation of the coupons hereto annexed, representing such annual installment of interest: provided, however, and it is expressly stipulated that the said Board of Commissioners reserves to itself the power, at its option, to call in and redeem this bond on the first day of July A. D. one thousand nine hundred and twenty-three, pursuant to the notice provided for by the Act of Assembly, in accordance with the provisions of which this bond is issued. And provided further, that when this bond shall be called in by notice aforesaid, interest thereon shall cease to accrue from and after the first day of July next succeeding the date of such notice.
OF FREE SCHOOLS.
Dated at Georgetown, this day of July, A. D. 1913.
Witness the seal of the said “The Board of Commissioners of the Public Schools of Georgetown, Sussex County," and the hands of the President and Treasurer of said Board
President of Board.
pons and bonds
Cancelled cou: As the said interest coupons and the said bonds are
paid the same shall be cancelled, in such manner as the said Board of Commissioners shall direct. The bonds issued and sold by the said Board of Commissioners, in accordance with the provisions of this Act, shall be a lien upon all the real estate situate and lying in said united districts.
ally money to
and pay interest
To raise annu- Section 4. That for the purpose of raising the funds redeem bonds necessary for the redemption of said bonds and for the
payment of the interest thereon, the said Board of Commissioners is hereby further authorized, empowered and directed to assess, raise, and collect annually, in the same manner as now provided by law for assessing, raising, and collecting the school taxes in said united school districts, such further sums of money as shall in their judgment be necessary and sufficient to meet the interest on said bonds as the same shall accrue, and to redeem the said bonds as the same shall be called in by the said Board of Commissioners, according to the provisions of this Act. The sums assessed, raised and collected under and by virtue of the provisions of this Act to be in addition to such sums assessed, raised and collected by the said Board of Commissioners for the school purposes, provided, that the sums levied and assessed under and by virtue of this section shall not exceed the interest of