The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-05
Only First-claSs Property.
UTAH BONDS FOR SALE.
Three Hundred Thousand (s3OO.0OO Dollars
of Five 90 Per Cent. Utah Territory
Bonds for Sale.

THE UNDERSIGNED, IN PURSUANCE OF
4 tne direction OF the loan commissioners OF
tne territory of Utah, hereby advertises that
olIs VIII De received at his Office in the city OF
SaIt Lake, said territory, until IL o'clock noon
OF Ihe 3lst day OF May, 1890, for the purchase of
anu at winch time a sale of the bonds herein
alter described will be made, namely: Three
nundred bonds, each of the denomination ~
Sl,UOO OF the engraved negotiable compound
ponds OF said territory, bearing five per centum
interest per annum, payable semiannually, on
ONT. On tne nrst 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 bv
SAID loan commissioners, at the option of the
purchasers of said bonds
Inc principal of said bonds shall be pavable
IN tne lawful money of the United States.
Within twenty years after the date Of their ISSUE
Dut redeemable at the pleasure of the territorv,
after ten years from date. It is provided i'm the
law, that at the expiration of ten wears after
the issuing of said bonds, there is set apart
ana ana appropriated out OF the general funds in
the hands of the territorial treasurer of said
territory annually not less than $1,000 to be
placed by the said treasurer in a fund to be
known as the redemption fund.- for the re-
oemptlon OF said bonds. And it is also further
provided that whenever, after the expiration OF
ten years from the date of the issuance of said
bonds, there is available in said redemption
fund the sum of $4,000 or more, il shall he the
duty of said treasurer to advertise the amonnt
OF money In the said redemption fund and the
number OF bonds. mum bering them in the order OF
uncI ISSUE, commencing at the highest number
then outstanding, which such fund is set apart
to pay and discharge, and the date when thew
VIII be paid and if such bonds so numbered in
such advertisement shall not be presented for
payment and cancellation at the expiration of
the date mentioned in such advertisements then
such fund shall remain in the treasury Of the
territory to discharge such bond whenever pre-.
sented for payment, but such bond shall draw
no interest after the expiration OF said adver-
tlSement.
In no case will said bonds be sold for less
than their face or par value and the accrued in
tereSt 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 success
~! bidder for compliance with the terms of his
DID, and said loan commissioners reserve the
right to reject any and all bids.
Inc bonds offered are to be issued for the
building OF educational and charitable lnstftu-
lions, for which appropriations have been made
oy the governor and legislative assembly of said
territory, and by authority and in pursuance of
an act Of the governor and legislative assemble
entitled IAN act providing for negotiating a
loan for certain public purposes" approved
March IL, 1890. The territory has bonded debt
of one hundred and fifty thousand dollars. and
Dy an act OF Congress approved June 30 1885 is
restricted TO creating any bonded Indebtedness
except for charitable and educational institu-
lions, and is limited in its power to create in
deDtedness for any purpose exceeding 1 per
cent or It's taxable valuation as shown by the
last assessment Of its taxable property for ter
rtorial and county purposes. Any indebted
ness attempted to be created in excess thereof
Is declared void. These bonds are exempt bv
law from taxation for any purpose within the
territory. BOLIVAR ROBERTS
Territorial Treasurer