The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-04-07
UTAH TERRITORY BONDS.
One Hundred and Fifty Thousand
(S15O,OOO.OO) Dollars of Five t5l
Per Cent. Utah Territory Bonds for
Sale.

THE UNDERSIGNED, IN PURSUANCE
L of the direction of the Loan Commits
s.oners of the territory o. Utah, hereby ad-
vertises that bids will be received at his
office, in the City of Salt Lake, said Terri
tory, until IL o'clock, noon. of Ihe 3lst day
of May, 1888, for the purchase of and at
which time sale of the bonds hereinafter
described, will be made, namely: One hun
dred and fifty bonds, each of the denomina-
ton of one thousand dol ars, of the engraved
negotiable coupon bonds of said Territory.
bearing five per ceotum interest per annum.
payable sem 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
Oan Commi. sioners, at the option of the
purchasers of SAID bonds.
The principal of said bonds shall he pay
able in the lawful money of the United
States, within twenty years after the date of
their sue, but redeemahle at the pleasure
of the Territory after ten years
from date 1t Is provided in the
law, that at the expiration of
there is set apart and appropriated out of
gen raj funds in the hands of the Terri
torial Treasurer, annually not leAs than
fifteeu thousand dollars, to be placed by the
sai1 Treasurer in fund to be known as the
"Redemption fund" for the redemption of
that whenever. after the expiration of ten
years from the date of the issuance of said
bonds, there is availablesin said redemption
fund the sum of fifteen thousand dollars or
mOre,-it shall e the duty of the ssid Treas
urer l advertise the amount of money in
the said redempti II fund and the number
of bonds, numbering them in the orGer
CT their issue, commencing at the highest
nun er then outstanding which such fund
is set apart to pay and discharge, and the
date when they will be paid, and if such
bonds 80 numbered in such advertiser pt
shall not be presented for payment and
cancellation at the expiration of he date
ment' oned in such advertisement then
such funds shall remain in the Treasury of
the erritorv to discharge such bond when
ever presented for pa ment, but such bond
shall draw no interest after the expiration
of said adVertisem- MT.
In no case will said bonds be sold for less
than their face or par value and the "ccrued
interest at the time OF payment therefor.
The award of purchase of said bonds will
be made to 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
Commissioners reserve the right 10 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
sad Territory, and by authority and in pur-
suance of an ct of the Governor and Legis-
lstive Assembly, entitled, ".an Act provid-
ing for negotiating loan for certain public
PURPOSES" approved Merch8, 1888.
4 he Territory has no other bonded debt.
and by an act of Congress approved June
30, 1885, is restricted to creating any bonded
indie Ntedness, eXcept for charitable and
educational institutions and is limited in
its power to create indebtedneis for any
purpose, exceeding one per cent. of its tax
able valuation ms shown by the last sssess
meDt of its taxable property Tor Territorial
and County purposes. Any Indebtedness
attemnted to be created in excess thereof
is declares void These bonds are exempt
by law from taxation for any purpose
within the Territory.
JAMES JACK,
Territorial reasurer.