Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-16
LEGAL.
ORDINANCE NO. II2

An ordinance to provide for borrowing one
hundred and fifty thousand dollars CSl5O,OO0
for municipal purposes, and Az a,nthorlzlng
bonds of the city therefor.
PREAMBLE
Whereas BY an ordinance passed and ap-
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 election
was called for the purpose of submitting to
the qualified electors of the City of Fair
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. ID. 1891; and,
Whereas, The vote east at said election
was duly canvassed on the 9th day of May,
A. d. 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-tfths OF
OF borrowing the sum aforesaid and issuing
the negotiable coupon bonds of the city
therefor; and,
Whereas. the sum of one hundred and fly
thousand dollars G8l50,00O 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. Ill. duly authorized to
have properly autographed negotiable cou-
pom bonds of said city Therefore, p
do ordain as follows:
| SECTION 1. That for municipal purposes
| the MAYOR and executive committee OF this
| council are hereby authorized and directed
to borrow on the credit of the City of Fair
| haven for a term of twenty years, the sun
of one hundred and fifty thousand dollars
at six per cent interest, payable semi
SEC. 2 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 of Fair
haven, signed by himself as such mayor, at
| tested by the city clerk, under the seal o.
the city. one hundred and fifty negotiable
coupon bonds Of one thousand dollars each
of the character and form provided for IL
Ordinance No. Ill of the ordinances of sait
city, and in pursuance OF an act entitled
IAN act to authorize cities and towns to Dor
row money for municipal purposes and {,
issue negotiable bonds therefor, approved
May z, A. ID. 1891"
SEC, 3. The treasurer of said city shall
keep a register of all of said bonds, which
register shall show the number; date
D amount interest, name of payee, and whei
and where payable of each and every of salt
bonds, executed, issued or sold hereunder.
SEC. When said bonds have been signed
attested and sealed. as hereinbefore pro
= vided, the mayor and executive committe
of this council shall negotiate the sale of tn
same. after having duly advertised the sam
30 for sale in such manner as they may deer
best. for period of at least twenty CO. day
preceding the day OF sale; provided sal
bonds shall not be sold for less than par an
accrued interest
Passed June Sd, 1891.
Approved June 4th, 1891.
, EN- WILSON, Mayor.
p Attest:
1891 ID. DAUN EGAN, City Clerk.