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OF THE REVENUE OF THE STATE.

to legalize the issue of certain State Bonds," passed at Secretary of Dover, May 5, 1891, in the next volume of Delaware Laws, tify and and shall certify the same as by this act amended.

Passed at Dover, May 15, 1891.

print the act as herein amended.

CHAPTER 19.

OF THE REVENUE OF THE STATE.

AN ACT to Legalize the Issue of Certain State Bonds-Amended.

be issued.

Whereas by an act of the General Assembly of the State Loan of of Delaware, entitled “An act to carry into effect the pro- thorized to visions of an act creating a State Board of Trustees for the be care of the Insane," passed at Dover, April 26, 1889, a certain loan of the State of Delaware of seventy-five thousand dollars was authorized to be issued, and under the terms and provisions of said act the said loan was issued;

nated in Senate.

And whereas after the enactment of the said law it was Law origiascertained that the said law originated in the Senate of the " State of Delaware instead of having originated as it was deemed it properly should have done in the House of Representatives of the State of Delaware, and thereupon grave doubts have arisen as to the legality of the said loan;

And whereas it is the desire of this General Assembly to set at rest all question affecting the legality of any loan for which the credit of the State is pledged ; now therefore

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

SECTION 1. That the State Treasurer be and he is hereby State Treas: authorized to issue bonds of the State of Delaware to the ized to is. amount of seventy-five thousand dollars, each bond to be of in bonds of the value of one thousand dollars, with coupons or interest $1600 each.

sue $75,000

the value of

OF THE REVENUE OF THE STATE.

Bonds num

and dated

at a rate not

four per cent.

ble July 1, 1901.

warrants thereto attached for each half year's interest

m. thereon. The said bonds shall be numbered from 1 to 75 hered 1 to 75 inclusive, shall be dated July first, 1891, and shall bear interJuly 1, 1891, est from and after that date at a rate not exceeding four exceeding * per centum per annui, payable semi-annually on the first

days of July and January in each and every year while they remain unpaid, payable at the Farmers' Bank in the

city of Wilmington on presentation of the coupon representPrincipal of ing such semi-annual installments of interest. The principal gaya of said bonds shall be payable at the Farmers' Bank of the

State of Delaware at Wilmington, on the first day of July,

A. D. 1901, on presentation and surrender of said bonds, but May be re- the same or any part thereof may be redeemed at the option

ay of this State on any first day of July or January in or after of July of the year A. D. 1893, upon thirty days notice published in or after * one newspaper published in the city of Philadelphia and zo'days no one newspaper published in the State of Delaware, indica

ting by their numbers the bonds thereby called and elected Bonds to be redeemed. The said bonds shall each be signed by the

F. Governor, Secretary of State and State Treasurer on behalf Secretary of of this State, and shall have the Great Seal impressed thereon Treasurer, or affixed thereto. The signature of the State Treasurer Great Seal. shall be engraved or printed on each coupon and the coupons

attached to each bond shall be numbered consecutively froin 1 to 19 respectively.

deemed on any first day

1893, upon

tice.

signed by Governor,

State and

with the

SECTION 2. The said bonds authorized to be issued by this act shall be in the following form to wit :

Form of bonds.

UNITED STATES OF AMERICA,

. STATE OF DELAWARE. No.

LOAN OF — These presents certify and make known that the State of Delaware is held and firmly bound unto the bearer in the sum of one thousand dollars lawful money of the United States of America, which the said State promises and binds itself to pay to the bearer at the Farmers' Bank in the city of Wilmington on the first day of July, A. D. 1901, with interest at —

-- per centum per annum, likewise payable at the Farmers' Bank in the city of Wilinington on the first days of July and January in each and every year whilst the same principal sum remains unpaid on the presentation of the coupons thereto annexed representing such semi-annual installments of interest.

OF THE REVENUE OF THE STATE.

Dated at Dover the first day of July, A. D. 1891. .

Witness the Great Seal of the State of Delaware, and the hands of the Governor, Secretary of State, and State Treasurer in the day and year aforesaid.

Governor,
Secretary of State.

State Treasurer."
And the coupon shall be in the following form to wit:

coupons.

«No.

Form of The State of Delaware will pay to the bearer at the Farmers' Bank of the State of Delaware, at Wilmington, on the first day of -- A. D. - the sum of - - dollars for six months' interest on Bond No. — Loan of 1891, dated July 1, 1891.

-, State Treasurer.”' SECTION 3. It shall be the duty of the State Treasurer State Treasto provide a record of the proper size and proportions to be wide to the retained in his office, so ruled as to afford a separate space for each coupon and a space at the top of each page of said count of record for each bond when paid or redeemed, and each space at the top of said record shall bear the same number as the bond, a record whereof is hereby to be preserved.

cord for keeping ac

bonds.

State Treas.

As the said coupons are paid it shall be the duty of the Duty of State Treasurer to mark the same in red ink across the face ure “Paid,” cut each of them in two lengthwise, and paste the pieces in the aforesaid space for such coupon in the record aforesaid, and as the said bonds shall be paid or redeemed, the State Treasurer shall cause the same to be canceled by making lines with red ink through the signatures of the Governor, Secretary of State and State Treasurer ; and also, by writing across the face thereof in red ink the following words :

“This Bond paid (or redeemed, as the case may be) this Form of en- day of -- A. D. — by the payment of the sum oy of one thousand dollars principal, and -- dollars interest, represented by coupon No. — by —

- - State Treasurer.”

try on face of paid bonds.

And all coupons unmatured and surrendered with each bond redeemed shall likewise be endorsed :

OF THE REVENUE OF THE STATE.

coupons.

empt from
a!l taxation,

New Castle
County.

Entry on “Canceled by the redemption of Bond No. - " in red

ink. When paid or redeemed the said bonds shall be pasted in the appropriate spaces in the record aforesaid, and all coupons paid or surrendered shall likewise be pasted in their appropriate space in said record.

SECTION 4. The public faith is hereby expressly pledged for the full and complete payment of the loan, principal and

interest by this act invited and authorized and the bond Bonds ex- hereby authorized to be issued or to secure the same, and that

n. the said bonds shall be exempt from taxation by this State for

any purpose, and the State Treasurer is hereby authorized and directed to cause all blanks in the form of the said bonds

and coupons hereinbefore prescribed to be appropriately filled. Proceeds of SECTION 5. The proceeds of the sale of the bonds the sale of authorized by this act to be issued shall be paid by the be paid to State Treasurer to the Trustees of the Poor of New Castle Trustees of the Poor of county in redemption of the bonds and attached coupons

of interest authorized to be issued under the provisions of an act entitled, “An act to carry into effect the provisions of an act creating a State Board of Trustees for the Care of the Insane," passed at Dover, April 26, 1889.

And the Trustees of the Poor of New Castle county are bonds issued hereby authorized and directed, upon receipt of the said

of proceeds, to cause to be delivered up to the State Treasurer 1889. the bonds and coupons aforesaid issued under the said act

of April 26, 1889, together with a receipt to the State Treasurer for such proceeds. Upon the receipt by the State Treasurer of the bonds and coupons issued under the act of April 26, 1889, he shall proceed immediately to have

them canceled according to the provisions of said act. Board of SECTION 6. The board of Trustees of the Poor of New

Castle county, upon the receipt of the proceeds of the pay over the bonds authorized to be issued by this act, shall imceeds to the mediately pay the same over to the County Treasurer of Treasurer. said county, and his receipt to them shall be their sufficient

voucher. Such proceeds so paid over shall be devoted to

the extinguishment of the floating indebtedness of New Floating indebtedness Castle county, now held by the several banks of the said tle county county. paid out of SECTION 7. That portion of the floating indebtedness of

New Castle county now held by the several banks of New

Trustees to deliver up

under act of April 26,

Trustees of the Poor to

of New Cas

held by banks to be paid out of the proceeds.

OF THE REVENUE OF THE STATE.

State Treas.

Castle county is hereby rendered valid and legal and extinguishable under the provisions of this act, as far as the proceeds of the sale of these bonds can effect the same, and any balance remaining may be by the Levy Court extinguished by current taxation.

SECTION 8. That all expenses of preparing, issuing and Cost of predelivering the bonds by this act authorized shall be allowed panies to be to the State Treasurer and paid out of any unappropriated allow funds in the State Treasury, he producing and exhibiting urer and the necessary vouchers therefor, as by law required with State. reference to other disbursements of public funds, and, further, that the Secretary of State and the State Treasurer shall respectively be allowed such compensation for the services to be rendered and performed by them under this act as shall be allowed by the Legislative Committee at the Legislative session in January, and such Committee is hereby expressly Committee authorized to make such allowances and to draw drafts on lowance. the State Treasurer accordingly.

Secretary of

CHAPTER 20.

OF THE REVENUE OF THE STATE.

AN ACT concerning the Mortgages held by the State against the Junc

tion and Breakwater Railroad Company and the Breakwater and Frankford Railroad Company respectively.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met (twothirds of each branch of the Legislature concurring) as follows:

SECTION 1. That if the Philadelphia, Wilinington and Marisages Baltimore Railroad Company shall (as and by way of a loan Junction and and advance by it to the Delaware, Maryland and Virginia and BreakRailroad Company) pay to the State Treasurer, for the use Frankford of the State, on the first day of July, A. D. 1891, the sum of Camp

water and

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