The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-04-06
ARTICLE XIV.
BONDS.

Sec. 80 = Whenever duly organized
school district IN any county in this terri
tory, at any regular or special meeting
called and held for that purpose, shall de-
termine by a majority vote to issue school
district bonds Tor the purpose of building
and furnishing a schoolhouse, purchasing
grounds on which to locate the same; or to
fund any outside Indebtedness, the trus-
tees may issue such bonds in accordance
with the provisions of this act.
Sec. 9l-Before the question of issuing
bonds shall be submitted to vote in any
school distrist, the trustees shall call
meeting of the voters of such district as
defined in section 81 of this act by notices
to be posted in at least five public and con
| spicuous places in said district, not less
than twenty days before such meeting
Said notices shall state the time and place
OF the meeting, the amount of bonds pro
posed to DE issued and for what purpose,
and the time in which they shall be made
payable; the voting at such meeting
shall be by ballot; all ballots de-
posted in favor of issuing bonds shall
have thereon the words, bonds, yes" and
those opposed thereto shall have thereon
the words ''bonds, no." if majority Of
| the votes cast shall be in favor of issuing
bonds, the trustees shall forthwith proceed
to issue bonds in accordance with the vote,
but if less than majority of the votes cast
are in favor of issuing bonds. there shall
be no further action on the the question for
one year thereafter; PrOUided, however,
that the question of issuing bonds snail
not be submitted to vote of the taxpay-
ers of any district, and no meeting shall be
called for that purpose until tue trustees
are petitioned In writing so to do by one
third of the said taxpayers resident in
said school district.
Sec. g2-The denomination of the bonds
which may be issued under the provisions
of this act shall be fifty dollars or some
multiple of fifty, not exceeding one thous-
and dollars, and shall bear interest at the
rate OF not exceeding 8 per cent. per an
mum, payable annually in accordance with
interest coupons which shall be attached
TO said bonds. And no greater amount thar
three thousand dollars can be issued fo1
any one schoolhouse, except in districts oil
more than tive hundred inhabitants, anC
in such district the amount shall not ex
coed per centum of its assessed valuation
and such bonds shall be made payable no
more than twenty years from their date
The trustees may reserve the right to re
deem such bonds or any of them at any
time after five years from their issue.
Sec. 93-Whenever any school distric
has voted to issue bonds, the trustees o.
such district shall Immediately file will
the clerk of the county court of the county
in which such school district is situated,
certified copy of the order of the trustees
and certified copies Of the notices posted
calling such meeting, together with an aft
davit, showing when and where salt
notices were posted, and that they wer,
posted as required by law, and the orde
of the trustees. The trustees shall ais
file with the said clerk statement show
ing the number of inhabitants and value o
taxable property in the district, and tina
; the amount of bonds proposed to b
| issued does not exceed two per centun
of the value of taxable property il
the district, which statement shall be sub
scribed and sworn to by the trustees. Tn
said statement shall also bear the endorse
ment of the county superintendent of dis
trict schools that the meeting was lawful
, called and held, and the voting of the tax
payers, the canvass of votes cast and Al
matters in relation to the proposed issue O
bonds in said school district were lawful
conducted, and that such bonds may
, lawfully issued. Whenever any bonds ar
| issued under the provisions of this act
; they shall be autographed or printed O
J bond paper, and shall state upon their fac
the date of their issue, the amount of tn
bond to whom and for what purpose is
sued. also the time and place of pay