City of Providence - Certificate Serial Number 1 - $10,000 Rhode Island Municipal Bond
Inv# GB5530 Bond
$10,000 3 1/2% Sewer Loan Bond printed by American Bank Note Co., Boston. Providence, Rhode Island. Certificate #1!
Providence, the capital and most populous city of Rhode Island, is one of the oldest cities in the United States. It was founded in 1636 by Roger Williams, a Reformed Baptist theologian who was exiled from the Massachusetts Bay Colony due to his advocacy for the separation of church and state and his criticism of the colonists' treatment of Native Americans. Williams named the area Providence in recognition of "God's merciful Providence," which he believed had guided him to a safe haven for himself and his followers.
Situated at the mouth of the Providence River at the head of Narragansett Bay, Providence was originally settled after Williams and his group moved from Rumford, Rhode Island. They traveled down the Seekonk River, around Fox Point, and up the Providence River to the meeting point of the Moshassuck and Woonasquatucket Rivers, where they established the settlement of Providence Plantations. Over time, Providence became a significant part of the original Thirteen Colonies.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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