Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-13
BONDS
$3.50, 900 Non-Op;ional Twenty.
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington

Il
On or about July LIST A. d. 1891, the city Of
Fairhaven, Whatcom county, State OF Wash
| ingtOn. will issue Sl5O,0O0 twenty-year six per
cent. gold bonds. These bonds are of the de-
nomination of $1,000 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 1000. The last assessment roll of
said city, previous to the date hereof equal
lied August 4th, A. ID. 1880, shows that the as
sessed valuation of the taxable property of
said city is H.437 400. The real valuation IS
about 8l2.g00,000. 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
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:
said indebtedness has not been increased
This issue of sI5O,OOO IS the first issue of
bonds ever made by said city. and is the
first issue of the s25O,O00 authorized at said
election. The remaining 100000 OF said
t25OOO 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. ID. 1891. the purchaser to
pay accrued interest from July list lsgf to
date Of payment of sum bid. The interest is
payable July LIST and January LIST, first inter-
est payment being January list, A. ID. 1892.
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, A. 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 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 10
the highest bidder. Sealed bids endorsed
" Bids for General Municipal Pur-
pose Bonds" will be received by the sec
rotary OF the undersigned az the First Ma
tional Bank Of Fairhaven, Washington, un-
til II o'clock noon, June Goth. A. d. 1891. for
the purchase of any or all OF said issue OF
sl5n,OOO, when the same Will be opened and
allotment made as soon thereafter AS prac-
ticable.
A certified check, payable TO the order of
l. 5, Richards, city treasurer, for five per
cent OF the par value of the bonds bid for
must accompany all bids, said bids TO 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 June %, A. ID.
The right to reject any and all bids is re-
served.
Address all bids and correspondence to 2.
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, Mayor.
Y. W. CHRIST oPHER,
J. NJ. DARLING,
+. ]. KINGHORN,
Executive Committee.
Attest
u. w CHRISTOPHER, Secretary.
Dated June 9th. A. ID. 1891.