The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-09
UTAH BONDS FOB SALE,
Three Hundred Thousand (s3OO.OO0) Dollars
of Five 90 Per Cent. Utah Territory
Bonds for Sale.

fIlHE UNDERSIGNED, IN PURSUANCE OF
i the direction of the loan commissioners of
the territory of Utah hereby advertises that
bids will be received ut his office in the city Of
salt Lake, said territory until 12 O'Clock noon.
OF the 3lst day Of May, 1890, for the purchase Of
and at which time sale of the bonds herein
Liter described will be made, namely: Three
hundred bonds, each of the denomination of
S1,OOQ 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 tn
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
Jaw, that at the expiration of ten years after
the issuing of said bonds, there Is set apart
and appropriated out of the general funds in
the hands OF the territorial treasurer of said
territory annually not less than $4,000, to b
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 ard the
number OF bonds mum bering them in the order of
tnelr 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 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
the highest bidder, but before making any
award, security will be required of the success
ful 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-
lions, 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 IAN act providing for negotiating
loan for certain public purposes, approved
March IL, 1880. The territory has bonded debt
| OF one hundred and fifty thousand dollars, and
by an act OF Congress approved June 80, 1886, is
except for charitable and educational institu-
tons, and is limited in its power to create in
debtednesS for any purpose exceeding 1 per
cent. OF its taxable valuation as shown by the
last assessment of its taxable property for ter
rltor1al and county purposes. Any indebted
ness attempted to be created in excess thereof
| is declared void. These bonds are exempt by
law from taxation for any purpose within the
territory. BOLIVAR ROBERTS,