The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-08-16
Notice of Sale of Bonds by Salt Lake
City, Utah.

TO WHOM IT MAY CONCERN-NO-
tice is hereby given that, under and by
authority of majority vote of the quar-
ified electors of Salt Lake City, Ctah, at
an election duly held in said city July -.
1908. favoring the mourning of bonded
Indebtedness in the sum of four hundred
and seventy-five thousand S475.OOOoo) dol
lars, Tor the purpose of defraying the
expense OF increasing, improving, enlarg-
ing. extending. perfecting and adding to
the water supply and waterworks system
or said city, in the way and manner set
out in an ordinance submitting the ques-
ton OF mourning said Indebtedness to said
qualified electors. passed by the CITY
Council June Is, 1908, and approved by the
Mayor June Is. 1908; and also favoring the
mourning of a bonded Indebtedness in the
sum of one hundred and twenty-five thou
sand G125.000.00) dollars, for the purpose
OF completing. increasing. extending and
adding to the sewer system of said city,
in the way and manner set out in said or
dinance. Salt Lake City proposes to issue
and sell bonds of the face value of four
hundred and seveney-five thousand (s4a5,-
000.0W dollars. to increase, improve. en-
large, extend, perfect and add to its wa
aforesaid and bonds of the face value OF
one hundred and twenty-five thousand
Sl2o.OO0-O0) dollars to complete. increase
extend and add to its sewer system, as
aforesaid, said bonds to bear interest al
the rate not to exceed four and one-nalI
90 per cent per annum, payable semi
annually. and become due and payable al
the end of twenty years from the date OF
issue. with the option reserved TO the
city to pay or refund the same at any
time after the expiration of ten QO years
after the date of issue, and shall be OF
such denomination or denominations as
the City Council may hereafter determine
The net revenue from said water system
shall be set apart. and shall be sinking
fund for the payment of said water bonds.
and the interest thereon; and the city
council shall annually levy a sufficient
tax to pay the interest on said sewer
bonds as 1t falls due, and also to consti-
tute a sinking fund for the payment OF
the principal thereof.
That, under and pursuant to resolu-
ton of the City Council of Salt Lake City,
passed August 6. 1903. and approved by
the Mayor August Z, 1908, the undersigned
Mayor and City Recorder of said city
were authorized and directed to advertise
for bids for said bonds In certain news
papers therein named.
Now. therefore. in conformity. with said
resolution, and under the directions there
in contained. the undersigned Mayor and
City Recorder of Salt Lake City hereby
give notice that bids will be received Tor
the purchase of said bonds until August
81 1908 at 7:30 o'clock p. m, at which
time all bids must be in the hands of the
City Recorder and will then be opened
All bonds to be dated October ]. 1905. and
to be purchased and paid for In the fol-
lowing manner:
Water Bonds.
Two hundred thousand (s20o 10000 dol
lars thereof on October 1. 1908: one hun
bred and fifty thousand Ql50. oO0.O0) dollars
thereof on January /. 1909. and the re-
naming one hundred and twenty-five
thousand (s125, 10000 dollars thereof on
April l, 1903.
Sewer Bonds.
One hundred and twenty-five thousand
(sf25,00o00) dollars on October !, 1908
Each and every bid for the purchase of
said bonds shall be accompanied with a
certified check for one per cent of the
face value of bonds bid for, payable to
the order of the City Treasurer of Salt
Lake City, as a guaranty of good faith
on the part of the bidder. and TO reim-
burse said city for its loss and expense in
this behalf in case the bidder shall not
perform his bid after acceptance there
of by the city No bid will be considered
for less than the face value of said bonds.
Salt Lake City reserves the right to re-
ject any and all bids. and to accept any
bid deemed advanta geous to said city.
Dated August 7, 1903.
j. S. BRANSFORD.
Mayor.
j. B. MORETON.
City Recorder.