Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-25
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 list A. ID. 1891, the city Of
Fairhavcn, Whatcom county. state Of Wash
ington. will issue SlJOOO0 twenty-ycar six per
cent. gold bonds. These bonds are Of The de
nomination OF 81 900 each. will be dated July
list, A, -. 1891. mature in twenty years. Bear
Interest at the rate of six per cent, payable
scmi-annually, interest and principal. pay
able m the CITY OF New York. The population
Of said city $1,000 The last assessment roll OF
said city, previous to the date hereof, equal
lied August 4th, A. ID. 1880. shows that the as
scssed valuation of the taxable property OF
said city Is t7,I3l.iOg The real valuation Is
about sl2ODO,OOO. The entire existing and
contract Indebtedness Of every form, evil
denced by warrants, current accounts ana
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 OF voting on the
question OF Issuing said bonds, to-wlt:
April sth, A. ID. 1891, was SllojGl.l3, and that
said Indebtedness has not been Increased
This issue OF sIjo,COO is the first issue Of
bonds ever made by said city. and II The
first issue Of the t2B,OOO authorized at said
election. The remaining 100000 OF said
SZj600 viii not be borrowed for several
months. said bonds will bear date July lst,
A. ID. 1891. and be ready for delivery on or
about August LIST, A. ID. 1891. the purchaser to
paw accrued interest from July lst, 1891, to
date Of payment Of sum bid. The interest Is
est payment being January 1st, a. u. ls!2.
Said bonds are issued for general municipal
purpO-' s, pursuant 20 an act OF the lcgisla-
ture or said state, entitled An act To au-
thorflc cities aud towns to borrow money for
municipal purposes. ana to issue negotiable
bonds therefor approved March 9Th, n. ID.
1891, said act, while general IN its terms, was
drafted expressly for the purpose OF this
issue. There has never bceu default In
either principal or Interest In any obligation
Of said city, aud these bonds are issued by
irtn ma nf and i'm ~ riet conformity with The
constitutional and statutory provisions and
ordinances relative thereto. These bonds
contain al necessary reGftdis ana create az
obligation that cannot De resisted by said
city and may be taken In complete reliance
on their legality.
the highest bidder sealed bids endorsed
Bids for General Municipal Pur-
pose Bonds viii be received by the sec
rotary Of the undersigned AT the First Ma
tiOnal Bank OF Fairhavcn, Washington. uu-
tfi y O'Clock noon, June 9th. A. ID, 1891 for
the purchase Of any or all Of said Issue Of
SIjl loo. when the same Will be opened and
allotment made As soon thereafter as prac-
ticablc.
A certified check. payable to the order Of
/ :. Richards. city treasurer. for five per
cent. of the par value OF the bonds bid FOR
must accompany all bids. said bids 10 state
the price and terms Of delivery ofbonds and
Hids will De opened in the directors room
Of the First National Bank. Fairhaven.
Washington, by the undersigned mayor and
executive committee on said June -, A. u.
The right to reject any and all bids Is re-
served.
W. Christopher. secretary, care OF First Ma
tlonal Bank, tairhayen. Washington.
BY order Of the mayor and executive COM
mittee Of The council Of the city Of Fair
f. NJ. wmsoN, Mayor.
u. W. CHRfsT0PHER
II