The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-05-29
COUNTY BOND ISSUE
Ore Hundred and Twenty Thou.
sand Required.
INITIAToRY STEPS TAKEN BY
THE COMMISSIONERS.
A Resolution Covering the Whole
Subject-No Other Business Was
Transacted by the Board.

One hundred and twenty thousand
dollars is the amount of bonds the
board of county commissioners will be
compelled to issue in order to fund all
the floating Indebtedness outstanding
prior to the beginning of this year. The
initiatory steps to issue the bonds were
taken yesterday, a resolution stiDulat-
ing the amount and making detailed
provisions being passed.
The bonds are to be of the usual or
der, payable in lawful money of the
United States. and will be dated from
July l, this year.
The further details OF the proposed is
sue are contained in the following reso-
luton passed by the board:
THE RESOLUTION.
Whereas, There was outstanding
and unpaid a floating Indebtedness of
SAT- Lake county contracted prior TO
and existing on the 4th day of jan
uary, 1886, in a sum exceeding S120, 900,
evidenced by warrants of said county,
bearing interest at the rate of per
cent per annum; and,
w nereaS, 1t is deemed for the public
interest TO fund said Indebtedness and
issue bonds for the payment of the
same, under the provision of subdivis-
ion II of section Il of an act of the
legislature of the state of Utah. entitled
An act to establish uniform system
OF county government. approved April
Il, 1896. and an auIt &c said legislature
entitled An act permitting counties.
towns, school boards and school dis
triCtS 90 fund the floating Indebtedness
existing at the time Utah was admitted
as state which took effect March
6. 1897.
Now, therefore, be ii resolved that
for the purpose CT funding or paving
said Indebtedness and accrued interest
thereon, and under and by virtue of the
provisions of the statutes of the state
Of Utah. Salt Lake county issue bonds
in the aggregate sum of $4,000
That said bonds be of the denomin-
alton of $1,000 each, and bear date Of
July /, 1897, and be made payable 20
years after date, at the pleasure of the
said county, in lawful money of the
United States, with interest at the rate
of 8 per cent per annum, payable semi
annually at the Office of the county
treasurer of said county, in Salt Lake
City. Utah.
Resolved, That the county auditor
be and she is hereby authorized and
directed to advertise for bids for the
purchase of said bonds or any part
thereof. for a period of % days in the
daily issue of the Salt Lake Herald.
newspaper in said Salt Lake county,
which advertisement snail recite that
such bids will be received up to and
until IL o'clock noon Of the 29th day of
June, 1897, at which time the same will
be opened by the county clerk in the
presence of this board, at a meeting TO
be held on said last mentioned day,
and which said advertisement shall fur
ther state that the right is reserved to
reject any and all bids and to consider
any proposal that may be for the best
interests of the county. Said advertise
ment shall further state that bidders
are required to be satisfied as TO the
legality of the issue of said bonds be-
fore the time of opening bids, and that
each bid must be accompanied by a
certified check on national bank of
Salt Lake City, Utah. for per cent of
the amount of such bid. Such adver-
tfsement shall further state that all
bids must be sealed and addressed 20
the county commissioners of Salt Lake
county, Utah. and that said advertise
ment be also inserted in the following
newspapers: The Salt Lake Tribune
and Deseret Evening News for a per-
Tod of % days, Immediately preceding
said 18th day of June, 1897.
Resolved, That the county auditor
be and she is hereby instructed and au-