The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-24
UTAH BONDS FOR SALE,
Three Hundred Thousand (S300,O00) Dollars
of Five co Per Cent. Utah Territory
Bonds for Sale.

T1HE UNDERSIGNED, IN PURSUANCE OF
Il the direction of the loan commissioners Of
the territory of Utah, hereby advertises that
bids will be received at his Office in the city OF
Salt Lake. said territory, between IL O'clock
noon. of June IL, 1890, and II O'Clock. noon,
of July az 1890 for the purchase of
and at which time sale of the bonds herein.
after described will be made, namely: Three
hundred bonds, each of the denomination Of
$1,000 OF the engraved negotiable compound
bonds of said territory bearing five per centum
interest per annum, payable semi-annual1y on
on the first days of January and July of each
year, at the Deseret National bank in said citv
or at such bank in the city of New York; in the
state 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 he pavatIe
In the lawful money of the United States
within twenty years after the date Of theirissue
put redeemaole at the pleasure Of the territory
after ten years from date. 1t is provided in The
law, that at the expiration of ton wears after
the issuing Of said bonds, there is set apart
ana appropriated out OF the general funds in
territory annually not less than $1,000 to he
placed by the said treasurer in a fund to be
known as the redemption FIND for the 70
demption of said bonds An6lit is also f1rtber
provided that whenever, after the expiration of
ten years from the date of the issuance of said
oon9s; mere Is ayauaole In said redemption
fund the sum of $4,000 or more, it shall be the
duty OF said treasurer to advertise the amount
OF money In the said redeuptiOn fund and the
NUMBER Oh DondS-numDerin them in the order of
tnelr issue, commencing at the highest number
then outstanding, which such fund is set apart
10 pay ana dlScnarge, and the date when thew
Will be palo and II 1ch bonds so numbered IN
such advertisement shall not be presented for
payment and cane 5llation at the expiration of
the date ment1onfJ I'd in such advertisement then
suca tund snail remain in the treasury Of the
territory TO discharge such bond whenever pre-.
Sented 1or pay ment, but such bond shall draw
no interest alter the expiration of said adver-
| tisement.
| In no case will said bonds be sold for less
IMAM their face or par value and the accrued in
terest at the time of payment therefor The
Dids VIII be opened and the sales made to the
highest bidders at 12 O'Clock, noon, july
Il; 1890, at my Office in Salt Lake city,
| UElh, but before making any award
security will be required OF the success.
Id bidder for compliance with the terms of his
DID, and said loan commissioners reserve the
4 right TO reject any and all bids
| The bonds offered are to be issued for the
| building of educational and charitable lnstitu-
| lions, for which appropriations have been made
| Dy the governor and legislative assembly of said
| territory, and by authority and in pursuance of
an act OF the governor and legislative assembly
| entitled AN act providing for negotiating a
loan Tor certain public purposes" approved
| March IL, 1890. The territory has a bonded debt
OF one hundred and fifty thousand dollars. and
4 Dy an act OF Congress approved June 80. 1886 is
| restricted to creating any bonded Indebtedness
| except for charitable and educational institu-
! tons, and is limited in it's power to create in
| deDtedness for any purpose exceeding 1 per
/ cent. OF its taxable valuation as shown nv the
last assessment of its taxable property for ter
| rltor1al and county purposes. ANY Indebted
ness attempted to be created in excess thereof
| is declared void. These bonds are exempt by
| law from taxation for any purpose within the
| territory. BOLIVAR ROBERTS.
/ SaS4 Territorial Treasurer.