Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-27
BONDS
$50, 900 Non-Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington


On or about July LIST, A. ID. 1891, the city o
Falrhaven, Whatcom county, State OF w ash
ington. Will issue sl50,0OO twenty-year six pc
cent: gold bonds. These bonds are of the de
nomination OF ~ 900 each. will be dated Jul,
ist, "A. d. lsol mature in twenty years. Beai
! interest at the rate OF six per cent, payable
semi-annually, interest and principal pay
able III the City of New York. The population
OF sald city Is 1000. The last assessment roll Of
SAID city, previous to the date hereof. equal
| lied August 4th, A. ID. 1890. shows that the as
| sessed valuation of the taxable property OF
| said city is s7137. 400. The real valuation Is
about sl20OO,OO0. The entire existing and
| contract Indebtedness OF every form, evil
| denced by warrants, current accounts and
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-wit:
| April sth. A. ID. 1891, was sll0,5Gl l3 and that
sald indebtedness has not been Increased
since said date.
This Issue OF sl5O,oOO is the first issue of
bonds ever made by said city. and is the
first issue of the s2J0,0OO authorized at said
election. The remaining 100000 of said
t.S0,O0O will not be borrowed for several
months. Said bonds will bear date July list
a. d. lsDl and be ready for delivery on or
about August LIST, A. ID. 1891. the purchaser 20
paw accrued interest from July Ist 1891 to
date OF payment of sum bid. The interest is
payable July lst and January LIST first inter-
est payment being January list, A. ID. IsI2
Said bonds are issued for general municipal
purpos :, 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.
1871, said act, while GENERAL I'm its terms, was
drafted expressly for the purpose of this
issue. There has never been default in
either principal or interest In any obligation
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 and may be taken In complete reliance
on their legality.
These bonds will not be sold at private
sale, but Will be sold In whole or In 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 Fairhaven, Washington un-
I'll II O'Clock noon. June Goth. A. ID. 1891, for
the purchase OF any or all of said issue OF
$4,000, when the same will be opened and
allotment made as soon thereafter as prac-
ticable.
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 Of bonds and
payment thereon.
Bids will be opened In the directors room
Of the First National Bank, Fairhaven, |
Washington, by the undersigned mayor and |
executive committee on said une %, A. ID. !
1891, at 12:15 D. m.
The right TO reject any ana all bids is re- |
served
Address all bids and correspondence TO u. |
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 |
haven,
f. NJ. WILSON, Mavor.
y. W. CHRIsToPHER,
j. NJ. DARLING,
f. j. kINGHORN,
Executive Committee,
Attest;
u. W. CHRISTOPHER, Secretary.
Dated Jure 9Th. A. d. 1891.