Del. Code tit. 9 § 4639

Current through 2024 Legislative Session Act Chapter 269

Section 4639 - Contents of notice of sale - Award of bonds at single interest rate

Unless the notice of sale permits the naming of more than 1 rate of interest, as hereinafter provided, it shall state that all the bonds bid for shall bear a single rate of interest and, in case of a sale of more than 1 issue, after describing the separate issues, shall state the combined maturities as if such combined maturities constituted a single issue. The notice of sale shall state that the bonds will be awarded to the bidder offering the lowest interest rate and, as between bidders offering the same lowest rate, to the bidder who offers to pay the highest cash premium.

9 Del. C. § 4639

9 Del. C. 1953, § 4638; 56 Del. Laws, c. 103, § 13.;