The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-01
UTAH BONDS FOR SALE.
Three Hundred Thousand (S300, O00) Dollars
of Five 90 Per Cent. Utah Territory
Bonds for Sale.

THE UNDERSIGNED, IN PURSUANCE OF
i the direction of the loan commissioners of
tine territory of Utah, hereby advertises that
bids Will be received AT his office in the city of
salt Lake, said territory until - o'clock, noon
of The 3lst day OF May, 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. yableSSemi-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 al the, expiration of tens-years after
the issuing of said bonds there is set aDart
and appropriated out of the general FUNDS in
the hands of the territorial treasurer of said
territory annually not less than $4,000 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 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 redemption fund and the
number of bonds. numbering them in the order of
their issue, commencing at the highest number
then outstanding, which such fund is set apart
to pay and discharge, and the date when lhey
will 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 advertisement 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-
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
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
full bidder for compliance with the terms of his
bid, and said loan commissioners reserve the
right to reject any and all bids.
The bonds offered are to be issued for the
building of educational and charitable lnstitu-
tions for which appropriations have been made
by 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 for certain public purposes approved
March IL, 1890. The territory has bonded debt
of one hundred and fifty thousand dollars, and
by an act OF Congress approved June 30. 1856, is
restricted to creating any bonded Indebtedness
except for charitable and educational institu-
tions and is limited in its power 10 create in
debtedness for any purpose exceeding / per
cent Of It's taxable valuation as shown by the
last assessment of its taxable property for ter
ritorlal and county purposes. Any indebted
ness attempted to be created in excess thereon
is declared void These bonds are exempt byl
law from taxation for any purpose within the
territory. BOLIVAR ROBERTS,
Territorial Treasurer