The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-06-22
UTAH BONDS FOR SALE,
Three Hundred Thousand (SS0O,00O Dollars
of Five (5) Per Cent. Utah Territory
Bonds for Sale.

rTIHE UNDERSIGNED, IN PURSUANCE OF
i the direction Of the loan commissioners OF
the territory OF Utah, hereby adFertlses thai
bids will be received at his office in the city OF
salt Lake, said territory, between II O'Clock,
noon, of June 81, $780, and Il o'clock, noon,
of July ~, 1881, for the purchase of the
bonds hereinafter described namely: Three
hundred bonds, each of the denomination of
Sl.OOO of the engraved negotiable coupon
bonds OF said territory, bearing i've per centum
interest per annum, payable semi-annually, on
on the first days OF January and July OF each
year, ut the DeSeret National bank in said city.
or at such bank in III e 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 reueemable at the pleasure or the territory
alter Ten years from date. 1t is provided IN the
law, that AZ the expiration of ten years after
theissulng of said bonds there shall be set apart
and appropriated out of the general funds IN
the hands OF the territorial treasurer OF said
territory annually the sum OF $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 il is also further
provided that whenever after the expiration OF
ten years from the date of the Issuance OF said
bonds, there Is available III said redemption
fund the sum OF $1,000 or more, II 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
lnSlr lSSuc, the NlEueSL uullDtr
then outstanding, which such fund is set apart
10 pay and discharge, and the date when they
viii be pala, 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 Tor payment, but such bond shall draw
no interest after the expiration of the date men
toned in such publication
In no case Will said bonds be sold for less
than their face or par value and the accrued in
terest ut the time of their disposal The
bids viii be opened and the sales made to the
~, $780, at my Office in Salt Lake city,
Utah, 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 10 reject any and all bids.
The bonds offered are TO be issued for the
building of educational and charitable inStitu-
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 the issuing and
disposing Of teri torial bonds,'' approved
March -, 1890. The territory has a bonded debt
by an act of Congress approved June 30, 1885, is
restricted to creating any bonded Indebtedness
except for charitable and educational inStitu-
tons, and is limited in its power TO create in
ueptedneSS Tor any purpose exceeding | per
cent. of its taxable valuation as shown by the
rltori3l 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,
Territorial Treasurer.
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