Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-19
LEGAL
ORDINANCE NO. Il2

An ordinance 10 provide for borrowing one
hundred and fifty thousand dollars $50 600
for municipal purposes, and authorizing
the issuance OF the negotiable coupon
bonds of the city therefor.
PREAMBLE
Whereas, By an ordinance passed and APP
proved at a regular meeting OF the city coun-
ell of the City OF Fairhaven, held on the sth
day of April, A. ID. 1891. a special electios
was called 70 for the purpose q submitting TO
haven the question, whether said city should
borrow two hundred and fifty thousand dol
lars for municipal purposes and issue its ne
gotiable coupon bonds therefor; and
Whereas, Said election was held as pro-
vided by law and the city charter, on the I'd
day OF May, a; d. 1891; and,
was duly canvassed on the 9th day OF May,
A. ID. 1891, by the city council as provided In
the charter OF said city and,
Whereas, 1t appeared, and was so found by
the council that more than three-ffths OF
the votes east at said election were In favor
OF borrowing the sum aforesaid and Issuing
the negotiable coupon bonds OF the city
Whereas. the sum of one hundred and fifty
thousand dollars &l5000W will fully meet the
present needs OF the city for municipal pur-
poses and,
Whereas, The mayor and executive com
mittee OF this council were heretofore, To-
wit by Ordinance No. III. duly authorized 10
| have properly Autographed negotiable cou-
pom bonds of said city therefore
The said council of the city OF Fairhaven
do ordain us follows:
SECTION 1. That for municipal purposes
the mayor and executive committee OF this
council are hereby authorized and directed
10 borrow on the credit OF the City OF Fair
haven. for term OF twenty years, the sun
OF one hundred and fifty thousand dollars
at six per cent. interest, payable SEMI
| annually.
SEC q That to secure the payment OF the
| sum so borrowed and the interest therefor
| the mayor is hereby authorized and directed
| to issue in the name OF the City or Falr-
haven, signed by himself as such mayor, at
tested by the city clerk, under the seal OF
| the city. one hundred and fifty negotiable
coupon bonds OF one thousand dollars each
Ordinance No. Ill OF the ordinances OF said
city, and i'm pursuance Of an act entitled
| AN act to authorize cities and towns 10 Dor
row money for municipal purposes ana u
issue negotiable bonds therefor, approved
| May Z, A. ID. 1891"
| SEC. 3. The treasurer OF said city shall
| keep register OF all OF said bonds, which
| register shall show the NUMBER; date
| amount, interest, name OF payee, ana when
| and where payable OF eGch and every OF said
bonds executed, issued or sold hereunder.
| SEC When said bonds have been signed
attested and sealed. as hereinbefore pro
| vided, the mayor and executive commute,
| of this council shall negotiate the sale OF The
same after having duly advertised the same
/ for sale, In such manner as they may deem
best, for "A period of at least twenty COD day
preceding the day OF sale; provided sait
| bonds shall not be sold for less than par ant
accrued interest.
| Passed June 3D., 1891.
| Approved June 4tb, 1891.
f. NJ. WILSON, Mayor.
Attest:
| 1891 ID. DAUN EGAs, CITY Clerk.