Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-24
BONDS
$3.50, 900 Non Optional Twenty
Year Six Per Cent.
Gold Bonds
Fairhaven, State of Washington

otds' VI toh
On or about July LIST A. d. 1891, the city Of
Fairhaven, Whatcom county, State of Wash
ingLOn. will issue 8lJOOOO twcnty-year six per
cent. gold bonds. These bonds are OF the de-
nomination of ~, 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 1000. The last assessment roll Of
said city, previous to the date hereof equal
lied August 9Th A. ID. 1890 shows that the as
Sesscd valuation of the taxable property Of
said city Is S7,437,i0D The real valuation Is
about Sl2 0O0,0OO. The entire existing aud
contract Indebtedness OF every form, evil
denccd 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 Fairhayen at the date OF
the passage OF the ordinance authorizing the
election for the purpose of voting on the
question % Issuing said bonds, tO-wlt:
April sth, A. ID. 1891, was sll0,5Gl. ~, and that
said indebtedness has not been Increased
THIS issue Of si5O0OO is the first issue OF
bonds ever made by said city, and Is the
first issue Of the 82jO,G00 authorized at said
election. The remaining 100000 OF said
f2jO.0lO will not be borrowed for several
months. Said bonds will bear date July list
A. u. 1901. and be rrady for delivery on or
about August LIST, "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 LIST and January ist first inter
est payment being January Ist A. d. Isg2
Said bonds are Issued for general municipal
purpO-' s, pursuant to an act Of the lcgisla-
turc or said state, entitled An act TO au-
thOrlZc cities and towns 10 borrow money for
municipal purposes and 10 issue negotiable
bonds therefor approved March 9TH. A. d.
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 rccItals and create an
obligation that cannot he resisted by said
city and may be taken In complete reliance
These bonds Will not be sold at private
sale. but will be sold In whole or In part TO
the highest bidder. sealed bids endorsed
sdT pou DOR viii be by Inc rg
rotary Of the undersigned at the First Ma
tlonal Bank of Fairhayen, Washington, un-
I'll II o'clock noon, June 29th. A. ID. 1891, for
the purchase Of any or AL Of said issue Of
$1,000, when the same Will be opened and
allotment made as soon thereafter AS prac-
ticablc.
A certified check, payable TO the order OF
T. :. 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
Bids will be opened IN the directors room
OF the First National Bank. tairhayen.
NdADlnHlbUs ny Nhf hilufTniEi'u IibDbT ana
executive committee on said June 20, A. ID.
1891. at l2:l5 y. m.
The right 10 reject any and all bids II re-
served.
Address all bids and correspondence to u.
w. Christopher. secretary, care Of First Ma
tiOnal Bank, FairhaYcn. Washington.
BY order OF the mayor and executive COM
mittee Of the council OF the City Of Fair
haven,
f. NJ. WILSON, Mayor.
u. w. CHRIST OPHER.
j. NJ. DARLIN0,
r. j. kINGHORN,
Executive Committee,
Attest:
u. W. CHRISTOPHER, Secretary.
Dated lure 9th. A. u. 1891.