The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1916-09-07

AN ORDINANCE authorizing and
600 General Negotiab g Coupon
Refunding BoLds of the Town OF
Lynden. Washington, providing
for the form and detailS- Of such
bonds, providing for the en-
change of said bonds for a like
amount Of outstanding bonds OF
said town and providing for the
payment of the principal and in
terest thereof
WHEREAS, The Town of Lynden,
Washington, has now outstandin2
It's genera negotiable coupon bonds
Thousand Dol ais (s2,000.00, The
same being known as Water Works
Series B Bonds" dated December
l, 1911, drawing interest at The
rate of per cent. Ter annum, pay
able seni-annually, and
WHEREAS, 1t is possible at this
time to take Il. and canoe all of
said bonds by the issuance and OK
change therefor of the refunding
bonds herein authorized and provid-
ed for, and said town has no
cash on hand applicab to the re-
demption CT said bonds and it is
for the best interests of said Town
that it issue the refunding bonds
herein authorized and provided for
and thereby effect a saving of in
tel est,
NOW, THEREFORE, BE 1T OR
DAMNED BY the Council of The
Town of Lynden, Washington, as
follows:
Section /. That for the purpose
of taking up. canoe ling and Jay
Ing the general Indebtedness Of
said town n the principal sum of
100000, evidenced by the afore-
said outstanding genera negotiable
coupon bonds of said Town, that
said Town issue its general negoti-
al lie coupon bonds in the principa
a.Gount of 100000, the same to be
of the denomination of $4,000
each. to be numbered from one 10
four, both inc usive. to be dated
September 10, 1916, to bear inter-
est at the rate OF Sc per cent. per
annum, payable seni-annua ly, and
TO be payable both principal and
Interest in Go Coin of the United
States. of the present standard OF
Weight and finenesS, at the eff e
OF the Treasurer of said. Town o.
at the Washington Fiscal Agency in
New York City. at the option OF he
holder thereof, and to mature twen-
" years after date, with option re-
served to said town to redeem al
or any portion of said bonds in
numerical order, lowest numbers
first, on September 10. 1921. or on
any interest payment date there
after, upon cal, as provided in
said bonds.
Section 2. That the offer of John
e. Price and Company of Seattle,
Washington, TO exchange the afore-
said outstanding 100000 water
Works Series B Bcnds" for the re-
funding bonds herein authorized
and provided for and to pay prem
ium of one per cent, accrued inter
est, if any, and furnish blank bonds,
be and the s1ile is hereby accepted,
and the treasu e. il hereby author
lied TO deliver Iefunding bonds
tcGein authorized and provided for
tC said John f. Price and Company
sin. u taneo..sly vita the delivery 20
the treasurer by said John E. Price
and Company of the aforesaid ST.
10000 outstanding Water Wo ks
Series B Bonds" with unearned IN
crest coupons thereto attached,
and the payment of preni1m OF
ole per cent, and accrued nlerest
tie, con, if any. Tho Town of Lyn-
Gen hereby ob.iS,-tes itse to take
all lawful steps TO enable said
Join E. Price & Company to effect
al exchange of srj9 outstanding
5oL"s for t.e said refundirg bonds
Sec ion 3. Caid bonds and inter
est coupons shall be in substantial
the following form:
UNITED STATES OF AMERICA
STATE OF WASHINGTON,
COUNTY OF WHATCOM,
THE TOWN OF LYNDEN
REFUNDING BONDS. SERIES B