Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-14
BONDS
$3.50, 900 Non-Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington

On or about July LIST A. D. 1891, the city of
Fairhaven, WhatcOm county, state of Wash
ingtOn. will issue Slj0,OO0 twenty-year six per
cent gold bonds, These bonds are of the de-
nomination of II 900 each. Will be dated July
LIST, A. d. 1891. mature in twenty years. Bear
interest at the rate of six per cent, payable
semi-annually, interest and principal pay
ablel the City of New York. The population
of said city is 1000 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 81 ,43i.40a The real valuation is
about Sl2 100000. 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;
April Sth, A. ID. 1891, was SllO56l.l3. and that
said indebtedness has not been increased
since said date.
This issue Of sl5O.OOO is the first issue Of
bonds ever made by said city. and is the
first issue Of the S2j0,0OO authorized at said
election. The remaining 100000 of said
S250.0O0 will not be borrowed for several
months. Said bonds will bear date July 1st,
A. d. 1891 and be ready for delivery on or
about August lst A. ID. 1891. the purchaser to
pay accrued interest from July LIST. 1891, to
date Of payment Of sum bid The interest IS
payable July 1st and January LIST, first inter
est payment being January lst A. d. 1892.
Said bonds are issued for general municipal
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 18th, A. ID.
! 1891, said act, while general in its 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 and create an
obligation that cannot be resisted by said
| city and may be taken in complete reliance
These bonds viii not be sold at private
| sale, but will be sold in whole or in part to
/ the highest bidder. Sealed bids endorsed
Bids for General Municipal Pur-
| pose Bonds" will be received by the sec
| rotary Of the undersigned at the First Ma
/ tional Bank of Fairhaven, Washington, UNI
] til 70 o'clock noon. June Goth. A. d. 1891, for
| the purchase Of any or all of said issue of
| Sl5lO0O, when the same will be opened and
| allotment made as soon thereafter as prac-
] tiCable.
A certified check, payable to the order OF
/ |. s. Richards. city treasurer, for Ave 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 anC
| executive committee on said June -, A. d
1901 at l2:15 p. m,
The right 10 reject any and all bids is re-
| served.
Address all bids and correspondence to Z
| 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. CHRISTOPHER,
J. NJ. DARLING.
+. j. KINGHORN,
Executive Committee
Attest:
z. w. CHRISTOPHER, Secretary
Dated Jure 9Th. A. d. 1891.