Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-07
BONDS
ST. so, 900 Non-Optional Twenty.
Year Six Per Cent.
Gold Bonds


On or about July LIST. A. ID. 1891, the city OF
Falrhaven, Whatcom county State OF w ash
ington, will issue sl50,O0O twenty-year six per
cent. gold bonds. These bonds are OF the de-
nomination OF 81 900 each. will be dated July
LIST, A. ID. 1891. mature In twenty years. Bear
Interest at the rate of six per cent; payable
semi-annually, interest and principal. pay
able IN the City OF New York. The population
OF said city Is 1900 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 E,437,409, The real valuation Is
about ti2,OOOOO0. 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
against the City OF Fairhaven at the date OF
the passage OF the ordinance authorizing the
election for the purpose OF voting on tine
April Sth, A. ID. 1891, was sllO56l.13, and that
said indebtedness has not been Increased
This issue OF sl5O,OOO 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 remaining 100000 OF said
months. Said bonds will bear date July list,
A. ID. 1891, and be ready for delivery on or
about August LIST, A. ID; 1871 The purchaser 20
| pay accrued interest from July LIST, 1891, 70
| date OF payment of sum bid. The interest Is
payable July LIST and January LIST, first Inter
est payment being January LIST, A. ID. NV;
/
purposes, 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, n. ID.
| 1891, said act, while general In It's terms, was
drafted expressly for the purpose OF this
issue There has never been default In
either principal or interest In any obligation
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 ana create an
obligation that cannot be resisted by said
city and may be taken In complete reliance
on their legality.
These bonds win not be sold at private
sale, but will be sold in whole or in part e
" Bids for General Municipal Pur-
pose Bonds" will be. received by the sec
retary Of the uqdersigned e the First Ma
I'll ~ o'clock noon. June 18th, A. ID; 1891, FOL
the purchase OF any or AL OF said issue o.
$4,000, when the same VIII De opened ane
allotment made as soon thereafter as prac
A certified check, payable to the order o.
|. s. Richards, city treasurer, for hye pc
must accompany all bids, said bids TO stat
the price and terms Of delivery of bonds ant
dds viii he opened I'm the directors room
of the First National Bank, Fairhaven
Washington, by the undersigned mayor an,
executive committee on said June ~, A. i
The right TO reject any and all bids Is re
served
Address all bids and correspondence 10 =
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
en-. WILSON, MAYOR.
y. W. CHRIST opHER
j. NJ. DAaIfso,
y. j. KfsGHoRs,
Executive Committee,
D.. W. CHRrsrorHEa, Secretary.
Dated June 9th, A. ID. 1891