Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-20
BONDS
$I5o, 900 Non-Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State OF Washington

On or about July list A. ID. 1891, the city OF
Fairhaven, Whatcom county, State OF W ash
lngton. will Issue sl5g,O1J twenty-year six per
cent. gold bonds. These bonds are Of the de
nomination OF ~ 90 each. VIII DE dated July
list, A. ID. 1891. mature In twenty years. Bear
interest at the rate OF six per cent. payable
spontaneously, Interest and principal pay
allie IN the City OF New York. The population
OF said city f. 1000 The last assessment roll %
said city, previous To the date hereof. equal
lied August 3th, A. ID. l-o. shows that the AZ
sessed valuation Of the taxable property Of
said city Il s,s37,sO9. The real valuation j.
about sl2 10000. The entire existing aud
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 OF voting on the
question OF issuing said bonds, to-wlt:
April sth, A. d. 1891, was sll0, Is, and that
said Indebtedness has not been Increased
This issue OF sl5Oooo Is the first issue OF
bonds ever made by said city, and is the
first issue OF the $4,000 authorized at said
election. The renal ming 100000 OF said
s250,000 will not be borrowed for several
months. Said bonds Will bear date July LIST,
A. ID. 1891. and be ready for delivery on or
about August LIST, A. d. 1891 the purchaser 70
pay accrued interest from July lst, 1881, 10
date OF payment OF sum bid. The Interest Is
payable July LIST and January LIST, first inter
est payment being January list a. ID. ls'2:
Said bonds are issued for general municipal
purposes, pursuant to an act OF the legisla-
lure or said state, entitled AN act 10 au-
thorize cities and towns 10 borrow money for
municipal purposes and 70 issue negotiable
bonds therefor approved March 9Th, "A. ID.
Is0l. 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 and
Lat Df4n 10
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 In part 10
the highest bidder sealed bids endorsed
pose Bonds" will be received by the sec
rotary of the undersigned AZ the First Ma
tlonal Bank Of fairhaven, Washington: UNI
I'll u O'Clock noon. June 10Th. A. ID. lsel, for
the purchase OF any or all OF said issue OF
sl5nOo0, when the same will be opened and
allotment made AS soon thereafter AS prac-
ticable.
A certified check, payable to the order OF
!. 8. Richards, city treasurer. for FIVE per
cent. OF the par value OF the bonds DID Tor
must accompany all bids. said bids TO state
the price and terms OF delivery " bonds and
payment thereon.
lids will be opened In the directors room
Of the First National Bank. fairhayen:
Washington, by the undersigned mayor and
executive committee on said June -, A. ID.
1881. at 1Z:l5 y. m.
The right 10 reject any and all bids is re-
served.
Address all bids and correspondence 70 q.
W. Christopher. secretary, care OF First Ma
tonal Bank. Fairhaven, Washington.
BY order OF the mayor and executive com
mittee OF the council Of the City OF Fair
haven.
f. NJ. Wilson. Mayor.
Il. w. CHRIsIoPHKR,
J. NJ. DARLING,
+. J. KIsGHoRs,
Executive Committee.
Attest:
T.. W. CHRISTOPHER Secretary.
Dated Jure 9th. A. ID. l-yl.