Town of Westport - 1957 dated $1,000 Bond
Inv# GB5740 Bond
$1,000 3 1/2% Bond printed by Franklin Lee Division-American Bank Note Co. Westport is a municipality located in Fairfield County, Connecticut, United States, situated along the Long Island Sound within the region known as Connecticut's Gold Coast. It lies 48 miles (77 km) to the northeast of New York City and is included in the Western Connecticut Planning Region. The public school system in Westport is recognized as the premier public school district in Connecticut and ranks as the 17th best school district nationwide. During the period from the 1950s to the 1970s, many New Yorkers moving from the city to suburban areas discovered Westport's vibrant community of artists, musicians, and writers. This influx led to a significant increase in population, facilitated by the convenience of commuting to New York City while enjoying the picturesque rolling hills and the town's natural beauty. By this era, Westport had developed a reputation for "chic New York-style fashion shopping" and boasted a well-regarded school system, both of which played a crucial role in its growth.
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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