The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-23
UTAH BONDS FOR SALE,
Three Hundred Thousand (s3OO,9OO Dollars
of Five (5) Per Cent. Utah Territory
Bonds for Sale.

VtHE UNDERSIGNED, IN PURSUANCE OF
i the direction of the loan commissioners OF
the territory of Utah, hereby advertises that
bids will be received at his office in the city OF
salt Lake, said territory. between II 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 demon lnation of
slOOO, OF the engraved negotiable compound
bonds of said territory, bearing five per centr1m
interest per annum, payable sem1-annually. on
on the first days OF January ana July of each
year. at the DeSeret National hank in said citv
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 ontion 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
Dut redeemaole at the pleasure of the TERRITORY
AFTER ten years from date. 1t is provided in ths
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 nands OF the territorial treasurer OF said
territory annually not less than $1,000 to he
placed by the said treasurer in o. fund to be
known as the redemption fund.- :" for the re-
demptlon 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 redenn,otioT,
fund the sum of $4,000 or more, it shall be the
duty OF SAID treasurer to advertise the atnount
| or money In the said REDEMPTION fund and +be
number OF bonds. numbering them in the order Of
tnelr issue, commencing ct the highest number
then outstanding, which such fund is set apart
\ TO pay and discharge, and the date When fhev
Will be pa1o, AID If such bonds so nam bered in
| such advertisement shall not be presented for
! payment ana cancellation at tn o exniration Of
| the date mentioned in such adv ertisement. then
such fund shall remain in the treasury OF the
territory TO discharge such bond whenever pra .
senIeu Ior payment, but such bond shall draw
no interest after the expiration of said adyer-
| tisem emit ~ "'0i-
In no case will said bonds be sold for less
tnad tnelr lace or par value and the accrued in
tteEest at the time of payment therefor. The
pids VIII be opened and the sales made to the
! nighest bidders at IL o'clock noon, JULY
( II, 1880, at my office in Salt Lake citv
| Utah, but before making anv award
security Will be required of the success.
! ful bidder for compliance with the terms of hid
| plu, ana Salu loan commissioners reserve tha
| right to reject any and all bids.
Inc bonds offered are to be issued for the
| building of educational and Charitable Institu1
tions, for which appropriations have been made
| Dy tne governor and Legislative assembly of said
| territory, and by authority and in pursuance of
an act Oh the governor and legislative assembly
| enIltled AN act providing for negotiating a
loan Tor certain public purposes approved
Marcn Is, 1870 The territory has bonded debt
| OF one hundred and fifty thousand dollars. and
by an act of Congress approved June 20 1855 ia
| restricted 10 creating any bonded indebtedness
| except Tor charitable and educational institu-
| lions, and is limited in it's power to create in
| deDteonesS Tor any purpose exceeding 1 per
GENT. Oh ItS taxable valuation as shown by the
1ast assessment OF its taxable property for ter
| rltorlal ana county purposes. ANY indebted
ness attempteqe to be created in excess thereof
| IS declared Void. These bonds are exernnt nv
law from taxation for any purpose within the
| territory, BOLIVAR ROBERTS,
ase Territorial Treasurer.