The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-03-14

lnelr disposal. PROVIDED, Inat SAID loan
commissioners shall have the right to re-
lect any and all bids, and, provided further,
That they may refuse to make any award
unless sufficient security shall be furnished
by the bidder or bidders for the compliance
with the terms of their bids.
When a sale of said bonds or any of them
shall be awarded by the loan commits
sioners, they shall provide the necessary
engraved bonds as in this act provided, and
any expense incurred by them for the
publication of said notices, costs of remit
ting funds for the payment of interest or
money on said bonds and all other Incl
dental expenses under the provisions of
this act, shall be paid out of the general
fund OF the territory. upon the order of
the territorial auditor and sum of money
sufficient to cover said costs and expenses.
| $ hereby appropriated out of said funds
They shall, from time to time, after signing
said bonds, deliver them to the territorial
treasurer, taking his receipt therefor, and
charge him herewith before the issuance
of any such bonds the said treasurer shall
give to the territory of Utah an additional
official bond with two or more sureties in
the sum of $780,, 600, which bond shall be
approved by the governor and deposited
ana hIed with the secretary of the terri
tory, and recorded by him in a book to be
kept for that purpose. And the said
treasurer shall stand charged upon his
Official bond for the faithful performance
OF the duties required of him under this act.
The territorial auditor shall draw his
warrant on the territorial treasurer, pay
able to the order of said treasurer for the
amount of interest which shall fall due on
the first day of January and June of each
| year, which said interest warrant shall be
drawn at least one month previous to the
maturing of the interest, and the sum of
sl500O, or so much thereof as NAV be
necessary, is hereby appropriated and set
aside from the general fund of the territory
from year to year, to pay the interest upon
said bonds.
AT the expiration of ten years after the
issuing of said bonds there shall be set
apart, and is hereby appropriated out of
the general funds in the hands of the ter
rltorial treasurer. annually not less than
the sum of $50, 600, to be drawn on the war
rant of the auditor to pay the principal of
said bonds as the same shall fall due or be
called for as provided for in this act. Said
amount shall be held and placed by the
treasurer in fund to be known as the re-
demption fund for the redemption of said
bonds; Provided, That the provisions of
TINS section shall not be construed to pro-
hlbit the Legislature from making pro-
VISIONS for the redemption of any or all of
| said bonds after the expiration of said ten
years.
Whenever, after the expiration of ten
| years from the date of issuance of any
bonds under this act, there is available as
provided In the last preceding section, the
sum of SO, 600 or more, it shall be the duty
| OF the territorial treasurer to advertise as
| IN the manner of the advertising by the
| loan commissioners for bids for sale of
| bonds, which advertisement shall state the
amount of money in the said redemption
/ fund and the number of bonds, numbering
them in the order of their issuance, COM
mencing at the highest number then out
standing, which such fund is set apart to
pay and discharge and the date when they
will be paid, and if such bonds so numbered
| in such advertisement shall not be pre-
| sented for payment and cancellation, at the
expiration of the date mentioned in the
publication, then such fund shall remain in
the treasury to discharge such bonds when
ever presented, but they shall draw no in
terest after the expiration of the date
mentionedin such publication. Before any
such bond shall be paid, they shall be pre-
sented to the territorial auditor, who shall
endorse on each bond the amount due
thereon and shall write across the
face of each bond the date of Its
surrender and the name of the person sur
| rendering; the ACKNOWLEDGEMENTS shall
within ten days after the sale of any such
| bonds, file with the territorial auditor a
II,
rate ofinterest, date and amount of sale,
when, where and to whom payable, and
the territorial auditor shall keep a record
of all bonds issued and disposed of by the
| territorial treasurer, showing their num-
Der, rate of interest, date and amount of
sale, when, where, and to whom payable,
and when presented for redemption: the
date, amount due thereon, and person sur
rendering.
| 1t shall be the duty of said board of loan
commissioners to make full report of their
proceedings, had under the provisions of
this act bienpially to the Territorial Legis-
lative Assembly, during the first week of
| the session.
| No bonds issued under the provisions of
this act shall be taxed for any purpose
within this territory.
THE REVENUE BILL.
The Council announced that it had passed,
with amendments, H. f. ~, the revenue
bill. Referred.
THE PAVING BILL.
paving bill, were concurred in by the House,
and the bill passed-ayes 20, noes 1.
TRUST AND GUARANTY.
H. F. IA, the trust and guaranty bill,
came up on its third reading and passed.
THE sTATIsTICIAN BILL.
The Council announced that it had re-
considered its action by which the stats
tician bill was killed, and asked that that
document be returned. Granted.
THE RAILWAY BILL.
The committee on private corporations
recommended that H. F. sc, the railway
bill, be amended as suggested by his excel
lency. Adopted.
| CLAIMS ALLOWED.
The claims of T. E. Callister, assessor
and collector of Willard county, were al
lowed, on recommendation of the commit
tee on claims.
| THEY FINALLY GET THERE
The Council announced that it had
passed, without amendment, the statisti-
clan bill.
RELATING TO EsTRAYs.
G. f. II (substitute), providing for the
disposal of estrays for trespass and dam
age, was passed.
THE NEPHI COURT.
G.. F.66, relating to holding sessions of
the First judicial district court at Nephi.
then came up.
Mr.. Pierce opposed it, as did also Mr..
Ferry.
Mr.. Stewart was in favor of the passage
| of the bill.
MIR. Smith opposed the measure, because
it would work detriment to the people of
Eureka, whom he represented. 1t was
their wish that the First district court be
not changed from its present location.
Mr.. Hammond favored the measure. 1t
would be great convenience to large
number of the residents of the southern
| portion of the territory
MIR. Allen was opposed to the bill because
itdid not go far enough. Why was Nephi
selected: Why not give Fillmore, Manti
and other southern towns a chanceS Make