The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-29
MISCELLANEOUS.
UTAH TERRITORY BONDS.
tS15O,OOO.OO) Dollars of Five (5)
rer Cent Utah Territory Bonds for

TINE UNDERSIGNED, IN PURSUANCE
L of the direction of the Loan Commits
siOners of the Territory o. Utah, hereby al
Yertises that bids will be received at his
office, in the City of Salt Lake, said Terri
tory, until II O'Clock noon, of the 31st day
of May, 1888, for the purchase of and at
which time sale of the bonds hereinafter
described. will be made, namaly: One hun
bred and fifty bonds, each OF the denomlna-
ton of one thousand dol. ars, OF the engraved
negotiable coupon bonds OF SAID Territory,
bearing five per centum 1nterestp per annum.
payable semI-annually, on the first days OF
January and July of each year. ct the Desc
ret National Bank in said city, or at such
bank in the City OF New York, in the State
of New York, as may be designated bv said
! Dan Commis sioners, at the option OF the
purchasers of sad bonds.
The principal of said bonds shall be pay
able in the lawful money Of the united
States within twenty years after the Date OF
their i sue, but redeemable az the pleasure
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 bonds
there is set apart and appropriated out OF
general funds il the hands OF me Ierr-
torial Treasurer, annually not less tnan
fifteen thousand dollars, to be placed by the
said Treasurer in fund to be known as the
Redemption tund' for the retention OF
said bonds; And ii is also further PROVIDED
that whenever. aiIer the expiration OF ten
wears from the date of The issuance of said
bonds, there is available in said redemption
fund the sum of fifteen thousand dollars or
more, 1t shall he the duty of the said Treas
ureT TO advertise the amount of money In
the said redempti N fund and the NUMBER
of bonds, numbering them in the oroer
of their issue, commencing at the highest
numper then outstanding which such fund
is set apart to pay and discharge, and the
date when they will be paid, and II such
bonds so numbered in such advertisement
shall not be presented for payment ana
cancellation at the expiration of the date
mentioned in such advertisement then
such funds shall remain in the Treasury OF
| the TERRITORY to discharge such bond When-
ever presented for payment, but such BOND
shall draw no interest alter the expiration
| of said advertisement.
In no case will said bonds be sold for less
than their face or par value and the accrueo
| interest at the time OF payment therefor
The award of purchase of said bonds VIII
| be made to the highest bidder, but before
of the successful bidder for compliance
with the terms of his b d. and said Loan
Commissioners reserve the right 10 rt1ec'
| any and all bids.
The bonds offered are to be issued for the
building of educational institutions tol
| which appropriations have been MADE by
the Governor and Legislative Assembly o.
said Territory, and by authority and IN pur
suance of an act of the Governor and Legls
latiye Assembly entitled, "An Act provid
ing for negotiating loan for certain public
purposes" approved MarchS, 1888.
The Territory has no other bonded debt
and by an act of Congress approved Junt
20, 1856, is restricted to creating any 6onoeo
Indebtedness, except for charitable am
educational institutions and is limited IL
its power to create indebtedne for an,
purpose, exceeding one per ceat. OF Its tax
able valuation as shown by the last assess
ment of its taxable property TOR erritoria
and County PURPOSES. Any indebtedness
attempted to be created in excess thereo
is declared void These bonds are eXemp
by law from taxation for any porpos'
within the Territory.
JAMES JACK,
Territorial reasurer.