Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-23
BONDS
ST. 50, 900 Non-Optional Twenty.
Year Six Per Cent.
Gold Bonds
Fsirhaven, State of Washington

On or about July list A. ID. 1891, the city Of
Fairhaven, Whatcom county, state OF W ash
ingtOn. will Issue slJO,0t1 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 is 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 HiJl.4Gl. The real valuation Is
about tl2 100000. The entire existing and
contract Indebtedness OF every form, owl
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:
a prll sth, A. ID. 1891, was sll0,56i H. aud that
said indebtedness has not been Increased
This issue OF sljo,oOO is the first issue OF
bonds ever made by said city. and Is the
first issue OF the f2jO,tOO authorized at said
s210u0 will not be borrowed for several
months Said bonds will bear date July LIST,
about August LIST. A. d. 1891. the purchaser 10
paw accrued Interest from July LIST, 1891, %
date Of payment OF sum bid. The interest Is
payable July lst and January LIST, first inter
Said bonds are Issued for general municipal
purpo- :, pursuant TO an act OF the lcgisla-
ture or said state, entitled An act 10 au-
thOrlze cities aud towns TO borrow money for
municipal purposes. and to issue negotiable
bonds therefor approved March 9TH. 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 reciials 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 Who'll. or In part 10
the highest bidder. Sealed bids endorsed
g" Bids for General Municipal Pur-
pose Bonds" will be received by the sec
retary o. The 3, nnde ,s e The First Ma
I'll ~ o'clock noon June Goth. A. ID. 1901, for
the purchase OF any or all OF said issue of
s51,0O0, when the same VIII be opened and
allotment made as soon thereafter AS prac-
A certified check. payable to the order OF
l. 5. Richards, city treasurer, FOR hve per
cent. OF the par value OF the bonds bid Tor
must accompany all bids, said bids 10 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 49, A. d.
1891. at i2:l5 y. m.
The right 10 reject any and all bids is re-
served.
Address all bids and correspondence 10 u.
w. Christopher. secretary, care OF First Ma
tional Bank. farhaven, Washington.
BY order OF the mayor and executive com
mittee OF the council Of the City OF Fair
haven.
f, NJ. WILSON, Mayor
H. W. CHRIsToPHER
J. NJ. DAHLING,
4. J. kIsGHORS,
Executive Committee,
Attest:
z. w. CHRISTOPHER. Secretary.
Dated Jure 9Th. A. ID. 1891.