The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-10-18
by " L. I1AlNEos CudL
A. F. DoREMUS, City Engineer.

DRovo CITY BONDS FOR SALE-oNE
! hundred and twenty thousand dollars OF
seven az per cent. municipal bonds for sale.
The undersigned, in pursuance OF an order OF
the city council Of Provo City, hereby adver
tises that bids will be received at his office in
Provo City, Utah, at any time from the date
hereof until the hour Of IL O'Clock, noon, on the
l4th day of November, A D. 1891, for the pur-
chase OF the bonds hereinafter mentioned,
namely; One hundred and twenty bonds, each
OF the denomination Of one thousand dollars,
OF the engraved, negotiable, coupon bonds OF
Provo City, bearing seven per centum interest
per annum, payable semi-annually on the first
days OF April and October of each year. at the
First National bank OF Provo, Provo City. or
the Chemical National bank Of New Y TX, New
YORK city, at the option of the purchaser or
said bonds Said bonds are dated October !,
A. D. 1891, and bear interest from that date; the
principal of said bonds is payable in gold coin
OF the United States, within twenty years from
the date of their issue, but redeemaole at the
pleasure OF Provo City after ten years from
GATE. Provision is made in the ordinance
authorizing the issue of said bonds. that at the
expiration of ten years from the date Of said
bonds there shall be set apart and appropriated
out of the general funds in the city treasury OF
said city annually, the sum of Sl250J TO be
placed by the treasurer OF said city IN fund
to be known as the redemption fund for the
redemption Of said bonds. 1t is further pro-
vided thai whenever. after the expiration OF
ten years from the date OF issuance OF said
bonds, the is available in the said ''redemp-
be the duty Of said treasurer to advertise the
amount Of money in said fund, and the number
OF bonds, numbering them in the order or their
Issue, commencing at the highest number then
| outstanding, which said fund is set apart
to pay and discharge, and the date when
they will be paid. and II such bonds so NUM-
bered in such advertisement shall not be pre-
sented for payment and cancellation at the
expiration of the date ment oned In such adver
tisement, then such fund shall remain in the
city treasury TO discharge such bond whenever
presented for payment, but such bond snail
| draw no interest after the date mentioned in
such publication. The bids will be opened at
| OF the undersigned at Provo City Utah, but be-
! fore any sale and award is made security may
be requit ed Of the successful bidder for compll-
! ance with the terms OF his bid, and the said
Provo City reserves the right to reject any and
all bids. Bids may be for all or any part OF said
bonds. The bonds offered are issued to con-
struct system of waterworks for dome tic and
municipal purposes and in pursuance OF an act
of the legislative assembly of Utah territory,
entitled AN act providing for the incorporation
OF cities" approved March IS, 1888, and of an or
dinance of Provo City, entitled IAN ordinance
providing for the issuing and disposing OF NUM-
cipal bondS,' passed September 20, A. D. 1891
/ The city has no debt bonded or otherwise is
restricted to creating any bonded Indebtedness
except for the construction OF waterworks ant
other municipal purposes and is limited in it:
power to create any Indebtedness for any pur
pose exceeding per cent. OF its taxable valua
ton, as shown by the last assessment of it!
taxable property for territorial and county pur-
poses. Any Indebtedness attempted to be ere
ated in excess thereof is declared void. These
beads are exempt from municipal taxation.
JAMES e. DANIELS.
Treasurer of Provo City.
Provo City, October IL, 1891