Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1893-03-26
ORDINANCE NO. l7S

An ordinance TO provide for borrowing
seventy-hve 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 "A regular meeting Of the city
council of the city of Fairhaven, held on the
sth day OF April, 1891, "A special election was
called for the purpose OF submitting TO the
qualified electors of the city Of Fairhaven
the question whether said city should Dor
row two hundred aud fifty thousand dollars
for municipal purposes and issue its negOti-
able ctupOn bonds therefor; and
WHEREAS, said election was held as pro-
yided 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. 1891, by the city council as provided In
the charter of said city; and
WHEREAS, 1t appeared and was so found
by the council that more than three fths
Of the votes cast at said election were in
favor of 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 hfty thousand dollars duly authorized
have been borrowed in pursuance OF Or
dtnance 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
Ave thousand dollars of sad two hundred
!
rowep in pursuance of ordinance No. l61,
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 author ized, and said twenty-five thou
sand Is by the city council deemed neces-
sary for the present needs OF the city for
municipal purposes, now therefore
The city council of the city of Fairbaven do
orddin as follows;
SECTION THAT for municipal purposes
this council borrow on the credit of the City
of Fairhaven, and issue its negotiable cou-
pom bonds therefor for the sum of twenty
five thousand dollars.
SEC. 2-Said bonds shall bear date the first
day of April, A. ID. 1893. and shall be made
payable twenty years after the date thereof.
without option of prior redemption, both
principal and interest thereof shall be pay
able in gold coin Of the United States OF
! America OF the present value of weight and
! tineness. and said bonds shall be numbere d
from two hundred and twenty-six up to two
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 I'm number and
shall be numbered from one 10 forty, both
numbers inclusive, and shall be of the de-
nomination OF thirty dollars each.
SEC. i-Said bonds shall have printed
thereon copy of an act entitled, "An act to
authorize cities and towns TO borrow money
able bonds therefor" which act was APP
proved March eth, 1891, and shall also have
| printed thereon Ordinance No. 10i of the or
dinances of said city, together with a state
ment for signature by the mayor and clerk
OF said city, showing the result of the cleo
tion, pursuant TO which said bonds were au-
ihorized to be issued; said bonds shall be
made payable at such place as the mayor
and city council may designate In said
bonds, and 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-This ordinance shall take effect
and be In force from and after its passage
and publication, as provided by law.
Approved and passed this 18th day OF
March, A. ID. 1893.
Attest. A. MCKENZIE.
| +. ii. ANDERSON, Mayor.
City Clerk
Date OF first publication March 18th, 1893