The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-01

NHE UNDERSIGNED, IN PURSUANCE
L OF the direction of the Loan Com mis-
s:oners OF the erritOty o. Lab, hereby ad-
Vertlsts that bids will be received at his
once, IN tns City OF Salt Lake, said Terri.
tory. until IL o'clock, noon of III 3lst day
OF May, 1888, for the purchase of and at
Wnlctl Ifme sale of the bonds hereinafter
described, will be made, nam Nv. Onr hun
dred and nifty bonds, each of the deuomins-
tiOn .! one tnouSanq DOL ars. OF the engraved
negotlaDie coupon bonds of sid Territory.
bearing five per ecu um interest per annun'
payable sem annually, on the first DAVIS al
January and July of each year ut the Dess.
ret National Bank In So City, or at such
oank IN the CITY OF New York, IN the State
OF New York, as may be designated bv said
oan Commi siOners, at the option of the
purchasers of SAID bonds.
Inc principal or said bonds shall he paw
able In he lawful money of the United
States within twenty years after the date of
OF the Territory after ten years
law, that at the expiration of
ten years after the issuing OF said bonds
Gneie Is set apart and appropriated out of
general funds in the hauds of The Terri
IorlaI Tfeasurtr, annually not less tnan
ntteeu thousand dollars. to be placed by the
sam Tr' asurer in fund to be known az the
"Redeml ton rund for the reiempt of
s sa q bonds; And it is also further provided
Years from The date of tn issuance of said
0ouds, there Is availablesin said red nptiou
fund the sum of fifteen thousand dollars or
more, 1t sh Ill the duty of the i'd Treas
urer advertise the am unit of money In
the said redempti II fund and the number
OF bonds, numbering them in the order
OF their issue, commencing at the highest
mum er tnen outstanding which such iund
Is set apart to pay and disch irge, and the
date Whe they Will be paid, and If such
n 10
snail not be presented for payment and
canceila ION az the expiration Of he date
mentioned in such advertisement then
such funds shall remain in the Treasury of
tn erritorv to discharge such bond when
eve presented FOR pa ment, but such bond
shall dra y 10 interest a ter the expiration
oil said advertiser ut
In no case will said bonds be sold for less
than their face or par value and the ccrued
interest at the tine OF payment therefor.
The award of purchase of said bonds will
be made tn the highest bidder, but before
making any award security will be required
OF the successful bidder for compliance
with the terms Of his b d. and said Loan
CommlsNi0ne,s reserve the right 20 reject
any and all bids.
The bonds offered are to be issued for the
building of educational institutions for
which appropriations have been made by
the Governor and Legislative Assembly of
sa territory, and by authority and in pur-
suance OF an CT of the Governor and LegiE-
lative Assembly entitled, can Act prnvid-
ing for negotiating loan for certain public
PURPOSES" approved MsrchS, 1888
he Territory has nn other bonded debt,
aud by an act of Congress approved June
o, 1886, is restricted creating ANY bonded
indie teduess, exeent for charitable and
educational institutions and is limited In
its power to crsate indebt 4dne for any
purpose. exceeding one per cent. of its tax
able valua' on rs shown by the last assess
ment OF It's taxable property Tor erritorial
and County PURPOSES. Auy indebtedness
attem oted to be created in excess thereof
is declare, void These bonds are exempt
by law from taxa ion for any purpose
within the Territory.
JAMES JACK,
Territorial reasurer.