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OF THE LEVY COURT.

terest.

Date of bonds.

"Series I," "Series J," “Series K," “Series L," “Series
M," "Series N," "Series 0," respectively. Each of said
series shall consist of two thousand dollars and shall be

represented by four bonds numbered from 1 to 4 inclusive. Rate of in- The said bonds shall bear interest at the rate of four per

centum per annum payable semi-annually on the first days of
January and July in every year while they remain unpaid, at
the Farmers' Bank at Georgetown, on presentation of the
coupon representing such semi-annual instalment of interest.
The said bonds shall be dated the first day of July, A. D.
1887, shall bear interest from and after that date and shall
have coupons attached to each bond representing each semi-
annual instalment of interest which shall be numbered
consecutively. Each coupon belonging to each bond shall

bear the letter indicating the series of the bond to which it Bonds when is attached. The bonds embraced in “Series A" shall be payable.

payable on the first day of July, A. D. 1889. The bonds
embraced in “Series B’ shall be payable on the first day of
July, A. D. 1890. The bonds embraced in Series C" shall
be payable on the first day of July, A. D. 1891. The bonds
embraced in “Series D” shall be payable on the first day of
July, A. D. 1892.

The bonds embraced in Series E" shall
be payable on the first day of July, A. D. 1893. The bonds
embraced in “Series F” shall be payable on the first day of
July, A. D. 1894. The bonds embraced in Series G" shall
be payable on the first day of July, A. D. 1895. The bonds
embraced in "Series H” shall be payable on the first day of
July, A. D. 1896. The bonds embraced in “Series I' shall
be payable on the first day of July, A. D. 1897. The bonds
embraced in “Series J” shall be payable on the first day of
July, 1898. The bonds embraced in “Series K” shall be
payable on the first day of July, A. D. 1899. The bonds
embraced in “Series L” shall be payable on the first day of
July, A. D. 1900. The bonds embraced in Series M” shall
be payable on the first day of July, A. D. 1901. The bonds
embraced in “Series N” shall be payable on the first day of
July, A. D. 1902.

The bonds embraced in “Series ()" shall
be payable on the first day of July, 1903.
The said bonds may be in the following forin, to wit:

THE STATE OF DELAWARE,

Sussex COUNTY.
Series —

No.
These presents certify and make known that Sussex county,
in the State of Delaware, is held and firmly bound unto the

1

Form of bonds.

OF THE LEVY COURT.

coupons.

bearer in the sum of five hundred dollars, lawful money of the United States of America, which the said county binds itself to pay to the bearer at the Farmers' Bank in Georgetown, on the first day of July, A. D. — with interest at the rate of of four per centum per annum payable at the said Farmers' Bank in Georgetown, on the first day of January and July in each and every year, while said principal sum remains unpaid, upon presentation of the coupon hereto annexed, representing such semi-annual instalment of interest.

Dated at Georgetown, the first day of July, A. D. 1887.

Witness the seal of the Levy Court of Sussex county, and
the hands of the County Treasurer, President of the Levy
Court and the Clerk of the Peace of the said county, the
day and year aforesaid.
[SEAL.]

County Treasurer of Sussex County,
President of Levy Court of Sussex County,

Clerk of the Peace of Sussex County.
And the coupons shall be in the following forms, to wit: Form of
Sussex county will pay to the bearer, at the Farmers' Bank
in Georgetown, on the first day of

A. D.

the sum of ten dollars on bond No. Series

dated July ist, 1887. Number

County Treasurer of Sussex county. The said bonds shall each be dated the same day, shall be How signed signed by the said County Treasurer, President of the Levy Court and executand Clerk of the Peace on behalf of the said Sussex county, and shall have the seal of the said Levy Court affixed thereto. The said Clerk of the Peace shall, in a book to be provided Clerk of the by him for that purpose, make an accurate record, showing Peace shall each series of said bonds with their numbers and denomina- of bonds. tions respectively. It shall be the duty of the said County Duty of Treasurer to provide a record of proper size and proportions Treasurer. to be retained in his office so ruled as to afford a separate space for each coupon and a space at the top of the page of said record for each bond when paid or redeemed, he shall also affix his signature to each of the several coupons attached to each of said bonds and shall make an entry at the top of each page of the said record so to be kept by him of the number and series and also the denomination of the bond of which a record is to be made and kept on such page, and when the said bonds are delivered to the successful bidder or bidders therefor, the said County Treasurer, the President of the Levy Court and the Clerk of the Peace of Sussex county shall take

OF THE LEVY COURT.

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a receipt showing the delivery thereof and the price received
by them therefor. As the said interest coupons are paid it

shall be the duty of the said County Treasurer to mark the
Dunianil said in red ink' “ Paid," cut each of them in two pieces

lengthwise and paste the two pieces in the appropriate space
for such coupon in the aforesaid record. Whenever any of
the said bonds shall have been paid the said County Treasurer
shall cause the same to be cancelled by making lines of red
ink through the signature of the County Treasurer, President
of the Levy Court and the Clerk of the Peace, and also by
writing across the face of said bond in red ink: “ This bood
paid on the day A. D. — by the payment of
dollars principal and dollars interest represented by
coupons No. — by Courty Treasurer. And all
coupons matured and surrendered shall each likewise be en-

dorsed “canceled by the payment of bond No -." When
paneelle paid the said bond shall be pasted in the record aforesaid, and
coupons in all coupons paid, surrendered or served shall likewise be
book.

pasted in their appropriate space in such record.

SECTIOX 5 When an award shall have been made to the
successful bidder or bidders of the said loan by this act
authorized or any part thereof and the said bonds shall be
ready for delivery, said County Treasurer, President of the
Levy Court and Clerk of the Peace shall cause notice in
writing to be served upon each such bidder at least ten days
before the delivery of the bonds indicated in such notes.
case any bidder to whom an award has been made, fail to pay

the balance of the amount of his bid at the time designated
Upon fail in said notice the cash deposit made by him shall be abso-
cestui bil- lutely forfeited to Sussex county; and so much of the said
Hly deposit loan as he had bid for, may be re-advertised by the said com-
forfeiteil. mission according to the provisions of this act in that behalf.

SECTION 6. The said Levy Court of Sussex County is
Piel to directed to apply tlie inoney borrowed as aforesaid, within six
bir county" months thereafter, to the liquidation and payment of the
debt.

outstanding indebtedness of said county which may have
been due and payable before the passage of this act. The
application of the said money as aforesaid shall be made
through the said commission consisting of the County
Treasurer, President of the Levy Court and Clerk of the
Peace of Sussex county.

SECTION 7. It shall not be lawful for the said Levy Court

to contract any floating debt or to borrow any money in any Hvating addition to the amount by law authorized by this act; procided

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OF THE LEVY COURT.

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that in case of the destruction by fire of any of the public !roviso. buildings of said county or of any accident to any bridge of said county, destroying the same or rendering it insecure, the Levy Court mav, by a vote of two-thirds of its members, provide for such emergency by temporary loan or loans until after the next ensuing session of the General Assembly.

SECTION 8. In case of any violatio:i of Section 7 of this Penalty for act the members of the Levy Court roting in favor of said art. violation, shall be personally liable for any debt or debts so incurred.

SECTIOX 9. That the faith of Sussex county is hereby Faith of expressly pledged for the payment of the principal and related

pledged. interest of the bonds to be issued and sold by authority of this act; and the said bonds shall be exempt from taxation Bapteme in by the State or county for any purpose, and it shall be so taxation. stated by the advertisements for the proposals by this act authorized.

SECTION 10. It is hereby made the duty of the County Duty of the Treasurer, President of Levy Court and Clerk of the Peace to fill out of Sussex county in having having the said bonds prepared, to cause all blanks in the forms of said bonds and coupons hereinbefore prescribed, to be appropriately filled in conformity with the provisions of this act. SECTION 11.

All the expenses incurred by the County Expenses, Treasurer, President of Levy Court and Clerk of the Peace bow paid. in Sussex county in advertising for proposals, in causing the said bonds to be prepared, and in serving notices on the bidders to whom awards have been made, or in returning checks to unsuccessful bidders, shall be allowed to them, and paid by the County Treasurer out of any inappropriated funds in the treasury, he producing the necessary vouchers therefor as by law required with reference to other disbursements of the public funds.

SECTION 12. For the services required to be performed by Compensathe County Treasurer, President of Levy Court and Clerk of tien ot.com the Peace of Sussex county under this act, the said several officers shall respectively receive such compensation as may be deemed just by the Levy Court of Sussex county.

SECTION 13. That the Lery Court of Sussex county, in Lex Court fixing the rate of taxation, shall annually provide for a sum vel! Ds taxequal and sufficient to meet the interest due on the said sum ulicient to borrowed and also the principal of said loan as the same shall meet princi: become due and payable under the provisions of this act, terest when

missioners.

OF THE LEVY COURT.

which shall, when collected and paid to the treasurer of said

county, be set apart by him in a separate account to be opened The amount for that purpose and designated as the “Sinking fund account shall be set for the loan of 1887," and the said treasurer shall apply such

amount of said sum semi-annually as will pay the interest as a sinking due on said loan and such amount thereof from time to time

as will be necessary to pay off said bonds at maturity.

Passed at Dover, April 7, 1887.

County
Treasurer

fund.

CHAPTER 14.

OF THE LEVY COURT.

AN ACT to Authorize the Levy Court of Kent County to Appoint a Con

stable in Milford Hundred.

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

SECTION 1. Authority

That the Levy Court of Kent county is hereby to appoint a authorized and empowered to appoint some suitable person for Nilford constable of Milford hundred although he may not have been

a resident therein for six months prior to said appointment; Proviso.

provided, however, that this act shall not continue in force for a longer period than one year from the date of its passage.

Passed at Dover, April 13, 1887.

hundred.

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