The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-02
ReedzBur8itt
Main Street.
Ogden, Utah.
Buys and Sells
REAL ESTATE.
Only First class Property.
Only First Property.
UTAH BONDS FOB SALE,
Three Hundred Thousand (s3OO,OOW Dollar
of Five 90 Per Cent. Utah Territory
Bonds for Sale.

THE UNDERSIGNED, IN PURSUANCE OF
u the direction OF the loan commissioners of
tne territory of Utah, hereby advertises that
DldS viii be received at his Office in the city OF
SaIs Lake, said territory, until ~ O'Clock, noon,
Oh the 31st day of May, 1890, for the purchase Of
ana at which time sale of the bonds herein
AFTER described will be made, namely: Three
Dondred bonds, each Of the denomination of
Sl,OO0 of the engraved negotiable compound
<DondS OF said territory, bearing tive per centum
interest per annum, payable Semi-annually on
on the hrSt 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 ths
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
out redeemable at the pleasure of the territory
after ten years from date. It is provided in the
law, 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 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 tha
number of bonds. numbering them in the order Of
tHOAA loSuts DIT the QlRQeSb QuInDeE
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 fo6
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 advsr-
tlSement
In no case will said bonds be sold for Iess
than their face or par value and the accrued in.
terest at the time Of payment therefor This
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.
ful bidder for compliance with the terms OF his
bid, and said loan commissioners reserve tina
right to reject any and all bids.
The bonds offered are to be issued for tho
building of educational and charitable lnstitu.
TONS for which appropriations have been made
territory and by authority and in pursuance OF
an act Of the governor and legislative assembly,
entitled IAN act providing for negotiating a
loan for certain public purposes" approved
March IL, 1890. The territory has a bonded debt
OF one hundred and fifty thousand dollars, and
by an act Of Congress approved June go 1885, is
restricted to creating any bonded Indebtedness
except for charitable and educational inStitu.
t1ons and is limited in its power to create in,
debtedness for any purpose exceeding 1 pei
cent of its taxable valuation as shown by tho
last assessment of its taxable property for ter
r1tor1al 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 tha
territory. BOLIVAR ROBERTS,
Territorial Treasurer