DT Data Page #

555

Newspaper

Humboldt Times

Newspaper Date

7/28/1934

Page #

3

Item Type

Bond Election

Place

Text

The City Council voted to hold a bond election on August 28, 1934, to determine whether the City should create a bonded indebtedness of $959,000 at 4% semi annual interest to construct the proposed Mad River Water System. The $959,000 is a federal loan and the City has been awarded a grant by PWA of $318,000. The loan is the general obligation bond and is backed by a condition that taxes could be increased if general tax revenues don't gen. the necessary funds to pay off the G.O. Bond payments. Private investors would purchase the bonds.

Key Words

Voted, Bonded Indebtedness, Mad River Water System, Pwa

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