The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-05-13
UTAH BONDS FOB SALE,
Three Hundred Thousand $500, 1000 Dollars
OF Five Cd Per Cent. Utah Territory
Bonds for Sale.

HE UNDERSIGNED, IN PURSUANCE OF
4 Inc direction OF the loan commissioners OF
tne territory OF Utah, hereby advertises that
pigs Will De received at his office in the city of
SAT Lake, SAID territory. between IL O'Clock,
noon, OF June 12, 1890 and IL o'clock, noon.
Of July 49, 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 denomination Of
slUO, OF the engraved negotiable compound
bonds OF said territory, bearing five per centum
on the first days Of January and july of each
year, at the Deseret National bank In said civ
or at such bank in the city Of New York, in the
state OF New York. as may be designated bv
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 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 q 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 $1,000 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 mum bering them in the order Of
tnelr issue, commencing at the highest number
Then outstanding which such fund is set apart
10 pay and discharge, and the date when they
Will De palo. and II such bonds so numbered in
SUCH advertisement shall not be presented for
payment and cancellation at the expiration OF
tne 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 tbs expiration of said adver-
tisement.
In no case will said bonds he sold for 1ass
than their face or par value and the accrued in
terest at the time Of payment therefor. Ths
Dids Will be opened and the sales made to the
highest bidders at II o'clock, nOon july
IA, 1890, at my office in Salt Lake city,
Utah, but before making any award.
security will be required of the success
Dfd, and said loan commissioners reserve the
right TO reject any and all bids.
Inc bonds offered are to be issued for the
DuHdlng or educational and charitable lnstitu-
lions, for which appropriations have been made
Dy 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
loan Tor certain public purposes" approved
March - 1890 The territory has bonded debt
OF one hundred and fifty thousand dollars, and
Dy an act OF Congress approved June 80, 1886, is
restricted to creating any bonded Indebtedness
except for charitable and educational fnstitu-
lions, and is limited in it's power to create in
deDtedness for any purpose exceeding 1 per
cent. or It's taxable valuation as shown by the
last assessment OF It's taxable property for ter
ritorlal 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
r1tory. BOLIVAR ROBERTS,
Territorial Treasurer