Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1893-03-28
ORDINANCE NO. 17S

An ordinance to provide for borrowing
twenty-five thousand dollars for mu-
nicipal purposes, and authorizing the is
suance OF the negotiable coupon bonds of
the city therefor.
WHEREAS, BY an ordinance passed and ap-
proved at regular meeting Of the city
council OF the city OF Fairhaven, held on the
Sth day OF April, A. ID. 1881, a special election
was called for the purpose of submitting TO
the qualified electors ofthe city Of Fairhaven
the question whether said city should Dor
for municipal purposes and issue It's negoti-
able coupon bonds therefor; and
WHEREAS, Said election was held as pro-
vided by law and the city charter on the End
day Of May, A ID. 1891; and
WHEREAS, The vote cast at said election
was duly canvassed on the 9Th day of May,
a, ID. 1881 by the city council, as provided In
the charter of said city; and
WHEREAS, II appeared and was so found
by the council that more than three-fifths
of the votes cast at said election were in
faforoi borrowing The sum aforesaid and is
suing the negotiable coupon bonds of the
city therefor: and
WHEREAS, The sum of one hundred and
fifty thousand dollars OF said two hundred
and fifty thousand dollars duly authorized
have been borrowed in pursuance of Or
dipance No. III, duly passed by the city
council Of said city ON the Bird day Of June,
1891; and
WHEREAS, An additional sum OF seventy
five thousand dollars of SAID two hundred
and fifty thousand dollars have been Dor
duly passed the 18th day Of May, A. d. 1892,
and
WHEREAS There now remains unborrowed
the sum of twenty-five thousand dollars OF
the said two hundred and fifty thousand
duly authorized, and said twenty five thou
sand is by the city council deemea neces-
sary for the present needs OF the city for
municipal purposes, now therefore
The city council OF the city of Fairhaven do
orddin as follows:
SECTION THAT for municipal purposes
this council borrow on the credit of the City
OF Fairhaven, and issue It's negotiable cou-
| pom bonds therefor for the of twenty
| five thousand dollars.
| SEC. 2-said bonds shall bear date the first
J day Of April, A. ID. 1888, and shall be made
| payable twenty years after the date thereof
| without option of prior redemption both
| principal and interest thereof shall be paw
| able In gold coin Of the United States Of
| fneness, and said bonds shall be numbered
| from two hundred and twenty-six up to two
hundred and fifty, both numbers inclusive
and shall be OF the denomination OF one
thousand dollars each.
! SEC. 3-That the coupons attached to each
of said bonds shall be forty in number and
shall be numbered from one TO forty, both
numbers inclusive, and shall be of the de
nomination OF thirty dollars each.
SEC, l-Said bonds shall have printed
thereon copy of an act entitled. "An act 10
! authorize cities and towns 10 borrow fnoneg
able bonds therefor" which act was an
/ proved March eth, 1891, and shall also have
printed thereon Ordinance No. 1Ol of the or
dinances of said city. together with a state
/ ment Tor signature by the mayor and clerk
Of SAID city, showing the result OF the cleo
ton, pursuant to which said bonds were au-
/ lhorized to be issued; said bonds shall be
/ made payable at such place as the mayor
and city council may designate Ia said
| bonds ana interest thereupon shall be pay
/ able at the same place as the principal and
semi annually upon the surrender of the re-
| spective coupons.
SEC. 5-Ths ordinance shall take effect
ana be IN force from and after its passage
Approved and passed this 18th day OF
March, A. ID. 1893.
Attest: A. MCKENZIE.
| +. II. ANDERSON, Mayor.
City Clerk.
Date OF publication March o. 1893