Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-30
BONDS
$3.50, 900 Non-Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington

On or about July LIST A. d. 1891 the city OF
| fairhaven. Whatcom county, State of Wash
! ingtOn. will issue slJO,OO0 twenty-ycar six per
cent. gold bonds. These bonds are OF the de-
nomination of $1,000 each. will be dated July
| LIST, A, ID. 1891, mature in twenty years. Bear
interest at the rate of six per cent, payable
seni-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
scsscd valuation of the taxable property of
said city is S,43l4Og. The real valuation Is
about S12OO0,000. 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 nm indebtedness or liability
against the City of Fairhaven at the date of
| the passage Of the ordinance authorizing the
election for the purpose of voting ON the
| question OF issuing said bonds, to-wit:
April Sth, A. ID. 1891, was sll0,56l. l3 and that
| said indebtedness has not been increased
since said date.
This issue OF sl5O,COO is the first issue of
bonds ever made by said city, and Is the
first issue of the s250hO0 authorized at said
election. The remaining 100000 OF said
s25O,Ol0 will not be borrowed for several
months. Said bonds Will bear date July LIST,
A. ID. 1891. aud be ready for delivery on or
about August LIST, A. d, 1921. the purchaser TO
pay accrued interest from July lst 1891, to
date of payment of sum bid. The interest Is
payable July LIST and January LIST, first inter-
est payment being January fst, a. ID. 1892.
] Said bonds are issued for general municipal
purposes pursuant to an act OF the legisla-
ture or said state, entitled AN act to au-
thorZe 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 Ia It's terms, was
drafted expressly for the purpose of this
/ issue. There has never been default tn
either principal or interest In any obi legation
of said city, and these bonds are issued by
virtue of, and in strict conformity with, the
constitutional and statutory provisions and
ordinances relative thereto. These bonds
contain all necessary recitals and create an
obligation that cannot be resisted by said
city aud may be taken in complete reliance
on their legality.
These bonds will not be sold at private
sale. but viii be sold In whole or In part to
the highest bidder. Sealed bids endorsed
d" Bids for General Municipal Pur-
pose Bonds" will be received by the sec
rotary OF the undersigned at the First Ma
tional Bank of fairhaven, Washington, un-
til IL o'clock noon, June 29th. A. D. 1891, for
the purchase OF any or ali OF said issue OF
sl5l,O0O, when the same will be opened and
allotment made AS soon thereafter as prac-
ticable.
A certified check, payable 90 the order of
|. 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.
Washington, by the undersigned mayor and
executive committee on said une -, A. d..
1891. at 12:l5 p. m.
The right 10 reject any ana all bids is re-
served.
Address all bids and correspondence to q.
W. Christopher. secretary, care of First Ma
tionai Bank, Fairhaven. Washington.
BY order of the mayor and executive COM
mfttee OF the council of the City OF Fair
haven.
E. NJ. WILSON, Mavor.
u. W. CHRIST OPHER,
j. NJ. DARLING,
i. J. kINGHORN,
Executive Committee.
Attest:
Y. w. CHRISTOPHER, Secretary.
Dated Jura 9th. A. ID. fsBf.