The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-25
MISCBLBANBO US.
Utah TERRITORY BONDS.
One Hundred aud Fifty Thousand
$3.50, Dollars of Fiye (b)
Per Cent Utah Territory Bonds for
Sale.

TINE UNDERSIGNED, IN PURSU ANCE
of the direction of the Loan Commits
gioners of the erritotY o. Uiab, herery ao-
Yertises that bids will be received at his
Office, in the City of Salt Lake, said Terri
tory, until u O'Clock, noon, of the 3lSt day
of May, 1888, for the purchase of and at
which time sale of the bonds hereinafter
described. will be made, namely: One nun
dred and fifty bonds, each OF the dehomlns,
ton of one thousand dol, ars, of the engraved
negotiable coupon bonds of sald Territory,
bearing five per centum interest per Snnnm:
payable semI-annually, on the hrSt q, Us OF
January and July OF each year, Ht the Desc
ret National Bank in said City, or AT Snch
bank in the City Of New YORK, IN the eI1te
of New York, as may be designated By SAID
Loan Commissioners, at the option OF the
purchasers of SAID bonds.
The principal of said bonds shall re pay
able in the lawful money Of the United
States, within twenty years after the date OF
of the Territory after ten years
from date 1t is provided IN the
law, that at the expiration OF
ten years after the issuing of said bonos
there is set apart and appropriated out OF
general funds in the hands of the Terri
torial Treasurer, annually not less tnan
fifteen thousand dollars, to be placed by the
said Treasurer in a fund 10 be known AZ TN \
Redemption Fund" for the redemption OF
said bonds; And il is also further Provided
years from the date of the issuance of said
bonds, there is available in said redemption
fund the sum of fifteen thousand dollars or
more, it shall G the duty of the said Treas
urer ~ advertise the am.unt OF money III
the said redempti IL fund and the number
of bonds, numbering them in the order
of their issue, commencing at the highest
numue then outstanding which Snch fund
is set apart to pay and dischirge, snd the
date when they viii be paid, and If such
bonds so numbered In such ADVERTISEMENT
shall not be presented tor payment ana
cancellation at the expiration Of The date
mentioned in such advertisement then
such funds shall remain i'll the Treasury OF
the Territory to discharge such bond Wnep-
ever presented Tor payment, but such bono
shall draw 60 interest after the expiration
of said advertisement.
In no case will said bonds be sold for less
than their face or par value ana the Nccrued
interest at the tine of payment therefor.
The award OF purchase OF said bonds VIII
be made to the highest bidder, but before
making any award security will be required
of the succ ssful bidder for compliance
with the terms of his b d, and said Loan
Commissioners reserve the right 20 relect
any and al bids.
The bonds offered are to be issued for the
building OF educational institutions for
which appro priatiuus have been made by
the Governor and Legislative Assembly OF
said Territory, and by authority ana IN plr-
suance Of an hcJ OF the Governor and LeglS-
lative Assembly. entitled, IAN Act provid
ing for negotiating l0un for certain public
purposes" approved MarchS, 1885
The Territory has nn other bonded debt,
and by an act of Congress approved June
80, 1856, is restricted to creating any bonded
= Indebtedness, except for charitable and
educational institutions and is limited in
its power to create indebtedness for any
purpose, exceeding one per cent. of its tax
able valuation rs shown by the last assess,
ment of its taxable property for Territorial
and County purposes. Auy Indebtedness
ATTEMPTED to be created in excess thereof
is declared void These bonds are exempt
by law from taxation for any purpose
within the Territory.
JAMES JACK,
Territorial reasurer.