Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-08-06
ORDINANCE NO. 1913

An ordinance providing for the ratification |
of the sale OF the one hundred ana htty |
thousand dollar general municipal pur
pose bonds to the Rollins Investment COM
pany; and providing for the numbering OF
said bonds. and repeating ordinances In
conflict with this ordinance.
WHEREAS. by Ordinance No. ll2 Of the ordi-
nances of this city. the mayor and executive
committee were constituted special com
mittee. with power to negotiate the bonds In
said ordinance named; provided the same
were to be sold for not less than par ana ac-
crued interest; and,
WHEREAS, At an adjourned regular meet
ing OF the council of this city, held June ~,
at \ o'clock d m. OF said day, said committee
reported 10 this council that they had re
celved five bids for said bonds, the highest
bid of which would net the city ninety-One
cents on the dollar for said bonds, and that
/ said committee not having received any bid
| for par and accrued interest, had rejected
! all bids: that three Of said bids were accom-
| panied with a certified check for $500 each;
! and,
| having been accepted by the council; the
! council then and there in adjourned regular
session as aforesaid, were by the Rollins
Investment company. OF Denver, Colorado,
! rendered the following bid, to-wit;
| "To the Honorable Mayor and Common
Council OF the City of Fairhaven, Wash
Gentlemen: For the s1jO.OOO per cent 20
year bonds OF the city of Fairhaven, issued
for general municipal purposes and offered
for sale today, dated July l. 1891, with inter
est payable semi-annually, and both princi-
pal and interest being payable In gold coin
at some national bank in New York city.
We will pay you par, provided you Will allow
us a commission of six and oue-half per cent
NB per cent? TO be deducted from proceeds
OF sale OF the first installment OF bonds, and
accrued interest from date Of issue, until the
dates OF delivery of bonds, l. e.
S5OOU0 TO be delivered and paid for, on OF
before August I, 1891, at our option, or u;
soon AS legality Of bonds can be established
{ and bonds prepared and executed.
$4,000 on or before September 1, 1891, at oui
d $1,000 on or before October 1, 1891, at oui
$4,000 on or before December 1, 1891 at GU
option.
Bonds TO be legally and regularly issued
| and the usual papers showing legality OF tn
= issue TO the satisfaction of our attorney, u
, be furnished us prior TO delivery and pay
:. Bonds to be delivered and paid for at som
% bank in New York or Boston, as we may re
,e quest Bid presented in duplicate.
= The Rollins Investment Company, of Denver
= BY J. 5. Pishon, Agent"
WHEREAS, 1t was then and there ordere
by the council that said bid be accepted, an
the following written acceptance thereC
was by direction Of the council. signed b
the mayor and attested by the clerk undo
the seal OF the city, Said written acceptanc
THE above bid, being considered the bes
bid received, it is hereby accepted, and III
within described bonds are this day sold I
the Rollins Investment company, In ACCORD
ance with the terms OF the above proposition
And we. acting for and in behalf Of the cit
OF Fairhaven. do hereby agree to do a
things necessary to legally issue said bond
and when issued to deliver the same TO u
said The Rollins Investment company
its assigns on the above terms.
Fairhaven, Washington, June -, 1891.
lSeal Acceptance made out In duplcat
+. NJ. WILSON, Mayor.
Attest; ID. DAUN EGAS City Clerk"
WHEREAS IL is now desired by said TT
Rollins Investment company that said a
ceptancc Of its said bid be also placed in q
form Of AN ordinance; therefore,
The City Council OF the City OF Fairhayen
IN ordain as follows:
SECTION /. That the above and foregOii
mt acceptance OF the bid OF The Rollins Inves
,ts ment company as stated In the preamble
- this ordinance. be and the same j. herel
rs, ratified and confirmed. and the said sale
s., said bonds TO said company established, a
W proved and settled.
Id SIC .. That the bonds OF this issue OF Of
hundred and fifty thousand dollars, shall
lai Of the character and form prescribed
AZ Ordinance No. III and Ordinance No. 1i2
~ the ordinances OF the city OF Fairhaven, Z
is cepting that the same shall be number
from one 20 one hundred and fifty, both !
elusive.
. Passed August :. 1901.
= T. N. WILSON. Mayor
" Attest; d. DAUS EGAs. City Clerk