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To be used for pose than set

no other pur

forth in act

OF THE LEVY COURT.

for the purpose of constructing the said two draw bridg 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 of Sussex County.

Any residue

unexpended to

ing off indebt

sex County

Form of bond

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

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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, payable 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 As-
sembly 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.

may modify

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 determine.

Clerk of the

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

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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 County 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.

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

Levy Court to

improve Sus

Court House

Section 1. That the Levy Court of Sussex County be, borrow money and it is hereby, authorized and empowered to borrow to repair 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.

Rate of

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

Year of Maturity.

bonds and years of maturity

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1923

_$3500__.

1924

$3500__

1925

D.

$3500.

1926

E.

$3500.

1927

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May be redeemed by

Said bonds may at the option of the Levy Court conLevy Court af- tain a provision for the redemption thereof by the Levy ter five years Court at any time after the expiration of five years from the date hereof, at a premium not to exceed five per cent

Signatures on bonds

Bonds exempt from certain taxes

To be sold by resolution of Levy Court

Advertisement

for sale of bonds.

um.

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.

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.

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

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