The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-11
UTAH BONDS FOR SALE.
Three Hundred Thousand ($3O0.OOO) Dollars
of Five 90 Per Cent. Utah Territory
Bonds for Sale.

THE UNDERSIGNED, IN PURSUANCE OF
Il the direction of the loan commissioners of
the territory of Utah, hereby adyertises that
BIDS will be received at his office in the city of
salt Lake, said territory, between u o'clock,
noon, of June IL 1890, and u o'clock noon
of July .l2, 1890, for the purchase of,
and at which time a 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-annually, on
on the first days of January and July of each
year. at the Deseret 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 by
SAID loan commissioners, at the option of the
purchasers OF said bonds.
The principal OF said bonds shall be payable
In the lawful money OF the United States
within twenty Years after the date of their issue
but redeemable at the pleasure of the territory
after ten years from date. 1t is provided in the
law, that at the expiration of ten years after
lhe issuing OF said bonds, there is set apart
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 fund to be
known as the redemption fund.- for the re-
demption 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 redan,ntion
fund the sunr OF $50 or more, il shall be the
duty OF said treasurer to advertise the amount
OF money IL the said redemption fund and the
number OF bonds. numbering them in the order of
lhelr issue, commencing at the highest number
then outstanding, which such fund is set apart
to pay and discharge, and the date when they
Will be paiQ, 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 1nterestafter the expiration of said adyer-
tiSement.
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
BIDS Will be opened and the sales made to the
highest bidders at IL O'clock noon, July
l9, 1871, at my office in Salt Lake CITY
Titan, but before making any award
security will be required of the success
ini bidder for compliance with the terms of his
Dlu, and said loan commissioners reserve the
right 10 reject any and all bids
Inc BONDS offered are to be issued for the
building OF educational and charitable lpstit1l-
lions, for which appropriations have been made
by the governor and legislative assembly of said
an act OF the governor and legislative assembly
entitled IAN, act providing for negotiating
loan Tor certain public purposes approved
March ID 1880. The territory has a bonded debt
OF one hundred and fifty thousand dollars and
py an act OF Congress approved June 80, 1886. is
restricted to creating any bonded indebtedness
except for charitable and educational institu.
lions, ana is limited in its power TO create in
oeDleuneSS Tor any purpose exceeding per
cent. of its taxable valuation as shown bv the
last assessment of its taxable property for ter
rltorial and county purposes Any indebted-
is declared void. These bonds are EXEMPT nv
law from taxation for any purpose within the
territory. BOLIVAR ROBERTS.
Territorial Treasurer