Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-21
BONDS
$3.50, 900 Non-Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington

Fairhaven, State of Washington
On or about July lst A. d. 1891, the city OF
Fairhaven, Whatcom county, State of Wash
ingtOn. will issue Sl5O,0OO twenty-year six per
cent. gold bonds. These bonds are of the de-
nomination of 81, 900 each. will be dated July
list, A. ID. 1891. mature in twenty years. Bear
interest at the rate OF six per cent, payable
semi-annually, interest and principal. pay
able IN the City of New York The population
Of said city is 1000 The last assessment roll of
said city, previous to the date hereof, equal
lied August 4th, A. ID. 1880, shows that the as
sessed valuation OF the taxable property OF
about Sl2000,0U0. The entire existing and
contract Indebtedness OF every form, evil
denced by warrants, current accounts and
contracts already awarded including street,
sewer, salary and all other contracts that
are either an indebtedness or liability
against the City of Fairhaven at the date of
the passage Of the ordinance authorizing the
election for the purpose or voting on the
question OF issuing said bonds, to-wit;
april Sth, A. ID. 1891, was sllO,56l.l3, and that
said Indebtedness has not been Increased
This issue Of sl5O,OOO is the first issue of
bonds ever made by said city, and Is the
election. The remaining 100000 of said
s25O.OO will not be borrowed for several
months. Said bonds will bear date July lst
A. ID. 1891. and be ready for delivery on OF
about August lst, A. ID. 1891. the purchaser to
pay accrued interest from July LIST, 1891, 10
date of payment Of sum bid. The interest Is
est payment being January list, A. d. 1872.
Said bonds are Issued for general municipal
purpo>' :, pursuant to an act OF the legisla-
ture or said state, entitled An act to au-
thoriZe cities and towns TO borrow money for
municipal purposes. and to issue negotiable
bonds therefor approved March 9Th. A. ID.
1891, said act, while general In Its terms, was
drafted expressly for the purpose of this
| issue. There has never been default in
! of said city, and these bonds are issued by
virtue Of and In strict conformity with, the
constitutional and statutory provisions hnd
ordinances relative thereto. These bonds
contain all necessary recitals and create an
obligation that cannot be resisted by said
city and may be taken in complete reliance
These bonds will not be sold at private
sale, but will be sold in whole or 10 part to
the highest bidder. Sealed bids endorsed
" Bids for General Municipal Pur-
| pose Bonds will be received by the sec
rotary of the undersigned at the First Ma
tional Bank OF tairhaven, Washington, uR-
I'll II o'clock noon. June goth. A. ID: 1891, for
| the purchase OF any or all OF said issue OF
! Sl5l 900, when the same will be opened ana
allotment made as soon thereafter as prac-
| A certified check, payable TO the order OF
| I. S. Richards, city treasurer, for FIVE per
| cent. Of the par value OF the bonds bid for
must accompany all bids, said bids to state
| the price and terms of delivery Of bonds and
payment thereon.
| Bids will be opened In the directors room
Of the First National Bank. tairhaven;
4 Washington, by the undersigned mayor and
executive committee on said June 20, A. d.
| 1891. at l2:l5 p. m.
| The right 10 reject any and all bids is re-
| served.
! Address all bids and correspondence to T.
| W. Christopher. secretary, care of First Ma
| tional Bank Fairhaven. Washington.
| BY order OF the mayor and executive com
mittee OF the council OF the City of Fair
E. M. WILSON, Mavor.
H. W. CHRIST oPHER,
j. NJ. DARLING,
Il. j. KISGHORN,
Executive Committee,
Attest:
z. w CHRISTOPHER, Secretary.
| Dated JunP 9Th. A. ID. 1891.