Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-25
LEGAL
ORDINANCE NO. ll2

An ordinance TO provide for borrowing one
hundred aud fifty thousand dollars (si5OC
ir mnnicipai purposes, ana nnin connng
bonds OF the city therefor.
PREAMBLE
Whereas, by AN ordinance passed and APP
proved at a regular meeting OF che city coah-
ell of the City of Fairhayen, held on the sth
day of April A. d. 1891. special electios
was called for the purpose OF submitting TO
the qualified electors OF the city OF talr-
haven the question, whether said city should
borrow two hundred and fifty thousand dol
lars for municipal purposes and issue It's ne
gotiable coupon bonds therefor; and
Whereas, said election was held AS pro,
gided d, HS law and e., ,s, city charter o" the ID
Whereas, The vote cast at said election
was duly canvassed on the 9th day OF May,
A. u, 1901, by the. city council AS provided In
the charter of said city; and,
Whereas, II appeared, and was so found by
the council that more than three hfths OF
the votes cast at said election were In favor
Of borrowing the sum aforesaid and Issuing
the negotiable coupon bonds OF the city
therefor; and,
Whereas, the sum of one hundred and atty
thousand dollars CSl5O,000 Will fully meet the
present needs OF the city for municipal pur-
poses; and
Whereas, The mayor and executive com
mlttee of this council were heretofore, To.
wit, by Ordinance No III. duly authorized to
have properly autographed negotiable cou-
pom bonds OF said city therefore p.,.,.
do ordain as follows:
SECTION l. That for municipal purposes
the MAYOR and executive committee OF TINS
council are hereby authorized and directed
10 borrow ON the credit of the CITY OF fatr-
haven, for n term of twenty years, the sum
of one hundred and fifty thousand dollars,
at six per cent interest, payable semi
annually.
SEC. .. That 10 secure the payment OF the
sum so borrowed and the interest therefor,
the mayor X hereby authorized and directed
To Issue la the name OF the cry OF faF-
haven, signed by himself as such mayor, at
tested by the city clerk. under the seal of
the city. one hundred and fifty negotiable
coupon bonds of one thousand dollars each
Of the character and form provided for IN
Ordinance No. Ill of the ordinances OF Sald
city, and In pursuance of AN act entitled
AN act to authorize cities and towns TO Dor
row money for municipal purposes and TO
issue negotiable bonds therefor, approved
May T. A. ID, 1871"
SEC 3. The treasurer of said city shall
keep a register of all OF said bonds, which
register shall show the number; date,
amount, interest, name OF payce, and when
and where payable OF each and every OF SAID
bonds, executed, issued or sold hereunder.
SEC 4 When said bonds have been signed,
attested and sealed, AS hcreinbefore pro-
vided, the mayor and executive committee
of this council shall negotiate the sale or the
same. after having duly advertised the same
for sale, In such manner as they may deem
best, for period of at least twenty COD days
preceding the day Of sale; provided said
bonds shall not be sold for less than par ana
accrued interest.
Passed June Sd 1891
Approved June 9TH, 1891
+. NJ. WILSON, Mayor.
Attest:
1891 ID. DAUN EGAN, CITY Clerk.