Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-12
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 w ash
ington. will issue 8l5OOOO twenty-year six per
cent. gold bonds. These bonds are OF the de-
nomination OF Il, 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-annua!ly, interest and principal pay
of said city Is 1000. The last assessment roll or
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 s7,43l.40l. The real valuation IS
about sl2OOO,OOO The entire existing and
contract Indebtedness Of every form, evil
denced by warrants, current accounts ana
contracts already awarded, Including street,
sewer, salary and all other contracts that
are either am 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, t0-wlt:
April sth. A. ID. 1891, was sll0,jGil3 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 s2JO,CO0 authorized at said
election. The remaining 100000 OF SAID
/ S25O0OO will not be borrowed for several
/ months. Said bonds Will bear date July ISL,
| 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, 1871, TO
] date OF payment of sum bid. The Interest Is
payable July LIST and January lst first inter
| est payment being January LIST, A. ID. 1877.
! Said bonds are issued for general municipal
purposrs, 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 20 issue negotiable
bonds therefor approved March Ith, a. d.
| 1891, said act, while general In It's terms, was
| drafted expressly for the purpose OF TINS
! issue There has never been default In
! either principal or interest In any obligation
OF said city, and these bonds are issued Dy
virtue Of. and In strict conformity with, the
constitutional and statutory provisions and
ordinances relative thereto. These bonds
contain all necessary reeltals ana create az y
obligation that cannot be resisted by SAID
city and may be taken In complete reliance
These bonds will not be sold at private
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, un-
I'll ~ o'clock noon, June 29th. A. ID. 1891, for
the purchase OF any or all OF said issue OF
sI5nOOO when the same will be opened and
allotment made AS soon thereafter as prac-
ticable.
|. S. Richards, city treasurer, for FIVE pei
, cent. Of the par value OF the bonds bid foi
must accompany all bids. said bids 20 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, talrhayen
? Washington, by the undersigned mayor ant
executive committee on said June - A. ID
1891. at 1918 p. m.
The right 10 REJECT any ana All Dlus IL re
= served. .
Address all bids and correspondence TO u
= 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
f. NJ. Wilson, Mayor.
u. W. CHRIST oPHER,
e ]. NJ. DARLING,
f. J. KINGHORS,
Executive Committee,
: Attest:
n z. w. CHRISTOPHER, Secretary.
Dated June 9th. A. ID. 1891.