Dover, Delaware. December 23, 1921.
A regular adjournment meeting of Town Council was held in the Town Office at 7:00 P. M. with the following members present: Messrs. Hopkins, Caulk, Burton, Downes, Hancock, Clark, Bice and the President, Mr. Magee.
OBJECT: The object of the meeting was the presentation of a resolution direction the issue of one bond of the denomination of Five Thousand dollars (5000.00) by the Town council of the Town of Dover.
The following resolution was read by the President and on motion made by Mr. Downes, seconded by Mr. Hopkins, the same was adopted unanimously with the following councilmen voting favorably: Messrs. Caulk, Hopkins, Burton, Downes, Hancock, Clark, Bice and the President of Council, Mr. Magee.
The resolution was as follows:
“A resolution directing the issue of one bond of the denomination of Five Thousand Dollars ($5000.00) by the Town Council of the Town of Dover.
“WHEREAS Section 8 of Chapter 202, Volume 24, Laws of Delaware entitled “An Act to Amend an Act entitled “An Act to re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware as amended by Section 17 of Chapter 188, Volume 25, Laws of Delaware”, entitled “An Act to Amend an Act Entitled “An Act to Re-Incorporate The Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware as Amended” authorizes and empowers the Town Council of theTown of Dover to Borrow at such time or times as it shall determine, such sum or sums of money as said Council shall deem necessary or proper for the improvement of said Town or of the light and water works thereof, provided that at no time shall the aggregate of the unpaid and outstanding indebtedness created under the provisions of said Section as amended, be in excess of the sum of Twenty Thousand Dollars ($20,000).
AND WHEREAS at the present time there is an outstanding indebtedness of Fifteen Thousand Dollars ($15,000) created under the provisions of said Section 8 of Chapter 292, Volume 24, Laws of Delaware, entitled “An Act to Amend an Act Entitled “An Act to Re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware” as amended by Section 17 of Chapter 188, Volume 25, Laws of Delaware, entitled “An Act to Amend an Act Entitled “An Act to Re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware as amended”.
AND WHEREAS, in the judgement of the Town Council of the Town of Dover, it is deemed advisable and necessary to borrow the sum of Five Thousand Dollars (5000) for the improvement of the light and water works of the said Town of Dover.
NOW, THEREFORE, BE IT ORDAINED by the Town Council of the Town of Dover, at a regular adjourned meeting of said Council held on the Twenty-third day of December, A. D. 1921;
FIRST: That in compliance with and by virtue of the power and authority contained in Section 8 of Chapter 212, Volume 24 Laws of Delaware entitled “an Act to Amend an Act Entitled “An Act to Re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware as Amended” the Town Council of the Town of Dover, for the improvement of the light and water works of said Town, issue on the Twenty-fourth day of December, A. D. 1921 and shall bear interest from and after said twenty-four day of December, A. D. 1921 at the rate of five per centum per annum, and the principal of said bond, together with the accrued interest thereon shall be payable on the twenty-fourth day of June, A. D. 1922, at the Farmers Bank of the State of Delaware at Dover, on presentation of said Bond, in gold coin of the United States of America, equal in weight and fineness to the present standard.
SECOND: That said Bond shall be in the following form, to-wit:
UNITED STATES OF AMERICA
STATE OF DELAWARE
THE TOWN OF DOVER
DOVER CHARTER BONDS
No. 4 $5000.00
$5000.00
The Town of Dover, in the State of Delaware, for value received, hereby acknowledges its indebtedness and promises to pay to the holder of this Bond at the Farmers Bank of the State of Delaware at Dover, on the twenty-fourth day of June in the year of our Lord one thousand nine hundred and twenty-two the sum of Five Thousand dollars ($5000) with interest hereon at the rate of five per centum per annum upon the presentation of this Bond.
This Bond is issued by virtue of and in strict compliance with an act of the General Assembly of the State of Delaware approved March 9, A. D. 1907 entitled “An Act to Amend an Act Entitled “An Act to Re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware” as amended by Chapter 188 of Volume 25, Laws of Delaware, entitled “An Act to Amend an Act Entitled “An Act to Re-Incorporate the Town of Dover” being Chapter 746 of Volume 19 of the Laws of Delaware as Amended”.
IT IS HEREBY VERIFIED that this Bond is issued by authority of the above recited Acts of the General Assembly and the faith and credit of the said The Town of Dover are pledged for the full payment of the principal and interest of this Bond according to its terms.
This Bond, both principal and interest, shall be payable in gold coin of the united States of America, equal in weight and fineness to the present standard.
IN WITNESS WHEREOF the President of the Town Council of The Town of Dover and the Treasurer of the said The Town of Dover have hereunto set their hands and the corporate seal of The Town of Dover has hereto been affixed this twenty-fourth day of December in the year of our Lord one thousand nine hundred and twenty-one.
Signed: Arley B. Magee
PRESIDENT OF THE TOWN COUNCIL
OF THE TOWN OF DOVER.
Signed: William S. Haman
TREASURER OF THE TOWN OF DOVER.
That the said Bond shall be signed by the President of the Town Council of the Town of Dover and by the Treasurer of the said The Town of Dover. That there shall be affixed to said Bond the corporate seal of the said The Town of Dover.
THIRD: That the faith and credit of the said The Town of Dover be and the same is hereby expressly pledged for the full and complete payment of the principal and interest of said above named Bond.
STATE OF DELAWARE }
TOWN OF DOVER } SS
I, Harold W. Horsey, Clerk of the Town Council of the Town of Dover, do hereby certify that the above and foregoing is a true and correct copy of a resolution adopted by the Town council of The Town of Dover in the State of Delaware, at a regular adjourned meeting of the said Council held the twenty-third day of December, A. D. 1921.
IN WITNESS WHEREOF I have hereunto set my hand and affixed the corporate seal of the said The Town of Dover this twenty-third day of December in the year of our Lord one thousand nine hundred and twenty-one.
Signed: Harold W. Horsey
CLERK OF TOWN COUNCIL
SALARIES ALLOWED AND DIRECTED PAID: On motion of Messrs. Downes and Hopkins, Council voted to allow the Clerk’s salary of $300.00 for the year and said was directed paid after the necessary order was drawn.
On motion of Messrs. Hopkins and Burton the Solicitor’s salary of $100.00 was allowed and the Clerk instructed to draw the necessary order for its payment.
On motion of Messrs. Downes and Hopkins, the Treasurer’s salary of $200.00 was allowed by Council and the Clerk instructed to draw the necessary order for its payment.
Adjournment: On motion of Messrs. Burton and Hopkins, Council voted that when the meeting was adjourned it adjourned to meet at the call of the President.
Messrs. Downes and Hopkins then moved that the meeting be adjourned, there being no further business. Council so voted.
Signed: Harold W. Horsey
Clerk of Council.