Stevens County's $200,000 Bond Sale Was a Buyer's Bargain—and a Taxpayer Windfall

The $200,000 of Stevens County bonds authorized by the voters of the county at the special election held Sept. 6 were sold this week to H. W. Hulsey Co., of Chicago, the highest bidders. The bonds were sold to bear interest at the rate of four and one-half percent per annum and brought a premium of $1,180. Five bonding houses were represented at the sale and three bids were received by mail, indicating the eagerness of bond buyers to get the securities. Several of the bond firms represented stated that they preferred the Stevens County bonds to those of any other county in the state, the resources of the county being so great as to render the bonds safe and desirable. The money derived from the sale of the bonds will be used to refund the old bonded indebtedness of the county and take up the outstanding warrants. As the interest rate the county will have to pay is two and one-half to three and one-half per cent less than it has heretofore paid on this indebtedness, it will be seen that an annual saving of approximately $6,000 has been effected.