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

Microfilm Call # : MF 10