Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-17
BONDS
$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 sl51,OO twenty-year SIX per
cent. gold bonds. These bonds are OF the De
nomination of sl0O each. Will be dated July
list. A. ID. 1891. mature In twenty years. Bear
interest at the rate OF six per cent, payable
semi-annuaily, Interest ana Prlnelpaii, pay
Of said city is 1000. The last assessment rollof
said city, previous TO the date hereof. equal
lied August tth, A. ID, 1880, shows That the as,
sessed valuation OF the taxable property OF
said city Is s7,437.4G. The real valuation Is
about sl2.OO0,0OO. The entire existing aud
contract Indebtedness Of every form, eYl1
denced by warrants, current accounts ana
contracts already awarded, including street,
sewer, salary and all other contracts NAV
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 lhe
question OF issuing said bonds 2- WI;
said Indebtedness has not been Increased
This issue OF st5O,OoO is the first issue OF
bonds ever made by said city. and Is the
first issue OF the $4,000 authorized at SAID
election. The remaining 100000 OF said
s250,0o0 will not be borrowed for several
A. d. 1891 and be ready for delivery on or
about August LIST, A. ID. 1891. the purchaser 70
pay accrued interest from July LIST, 1871, 70
| date of payment OF sum bid. The interest Is
payable July LIST and January LIST, first inter
est payment being January LIST; a. ID. isN;
Said bonds are issued for general municipal
PURPOSES, pursuant TO an act OF the leElsla-
| lure or said state, entitled An act To au-
| thorize cities and towns TO borrow money Tor
municipal purposes and TO issue negoiiaDIe
| bonds therefor approved March 9TH. A. ID.
| 1sgl 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 ia any obligation
| Of said city, and these bonds are Issued by
virtue OF. and In strict conformity with, the
constitutional and statutory provisions ana
| fxfa
| 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 70
the highest bidder. Sealed bids endorsed
pose Bonds" will be received by the sec
rotary OF the undersigned at the First Ma
tional Bank OF fairhaven, Washington; un-
| iii ~ o'clock noon. June 18th. A. ID. 1891, FOL
the purchase OF any or all OF said issue o
$4,000, when the same Will be opened ant
allotment made as soon thereafter as prac
= ticable. -
A certified check, payable to the order o
l. g Richards, city treasurer, Tor hVe pc
cent OF the par value or tne ponds Dlu 10
: must accompany all bids, said dds 70 stat
the price and terms Of delivery ofbonds an'
. payment thereon.
I Bids Will be opened IN the directors room
, of the First National Bank. fairbaven
Washington, by the undersigned mayor an
: executive committee on said June ~. A. i
, 1897 at i2:l5 y. m.
: The right to reject any and all bids Is re
, | served. -,..,. .
Address all bids and correspondence 70
o W. Christopher. secretary, care OF first Ma
q tlopal Bank. Fairbaven, Washington.
By order OF the mayor and executive con
: | mittee of the council OF the CITY OF ran
v T.. NJ. WusoS. Mavor
!, H. w. CHHIsIO PHkR,
j. NJ. DARLiNG,
n Il. J. kISGHORs,
Executive Committee,
Y. W. CHRISTOPHER, Secretary.
q Dated lure 9th. A. ID. 1s9i.