The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-11-15

DROVo CITY BONDS FOR SALE-oNE
u hundred and twenty thousand dollars of
TX. (0. per cent bonds for sale. The
Undersigned, in pursuance OF an order OF
the city council of Provo City, hereby adver-
Uses that bids will be received at his office in
Provo City, Utah, at any time from the date
hereof until the hour OF 10 o'clock on the
23rd 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 dol
lars OF the engraved. negotiable, coupon bonds,
of Provo City, bearing six per centum interest
Der annum; payable semi-annuaily on the first
lays of May and November of each year, at the
FIRST National Bank OF Provo Provo City, or
The Chemical National bank of New York, New
York city. ct the option of the purchaser OF
said bonds. Said bonds are dated November 2,
"a. d. 1891, and bear interest IT that date; the
principal Of said bonds is payable In gold coin
pf the United states within twenty years from
the date OF their issue, but redeemable at the
pleasure OF Provo City after ten years from
date 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 tire asury of
said city, annually, the sum of $1,000, 10 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-
Pided that whenever, after the expiration of
ten years from the date of issuance of said
bonds, there is available in the said 'tredemp-
ton fund' the sum Of Sl2, 500 or more, il shall
De Inc uuLV OF SAID treasurer TO advertise the
amount of money in SAID fund.- and the number
OF bonds numbering them in the order of their
issue commencing at the highest number then
outstanding, which aidfund is set apart to pay
and discharge and the dale when they will be
paid, and If such bonds SO numbered in such al
Vertisement shall not be presented for payment
ana cancellation at the expiration of the date
mentioned in such advertisement, then such
fund sail remain in the city treasury to dis
charge such bonds whenever presented for pay
ment, but such bond shall draw no interest
alter the date mentioned in such publication.
The bids will be opened at 10 o'clock
November 2S 1884, at the office of the under
signed, at Provo City, Utah, but before any sale
and award is made security may be required of
the successful bidder for compliance with the
terms OF his bid, and the said Provo City re-
serves the right to reject any and all bids. Bids
may be for all or any part OF said bonds. The
bonds offered dre issued to construct system
OF waterworks for domestic and municipal pur-
poses, and in pursuance OF an act of the legiSla-
tive assembly of Utah territory, entitled AN
act providing for the incorporation of cities"
approved March Is. 1883, and Of an ordinance of
Provo City, entitled IAN ordinance prov ding
for the issuing and dsposing OF municipal
bonds" passed October 81 A. d. 1891. The city
has no debt bonded or otherwise; is restricted
to creating any bonded Indebtedness, except for
the construction of waterworks and other NUM-
opal purposes, and is limited in it's power to
create Indebtedness for any purpose ex.
ceeding per cent. of its taxable valuation. as
shown by the last assessment OF its taxable
property for territorial and county purposes
Any Indebtedness attempted to be created in ex-
cess thereof is declared void. These bonds are
exempt from municipal taxation
JAMES e. DANIELS,
Treasurer Of Provo City, Utah County, Utah.
Provo CITY, November 2, 1891.