Salt Lake Tribune | 1908-10-11 | Page 20 | [Untitled]

! WILL PROVE I I LEGALfTY OF TIL I I BONO ISSUE t T V V I Within a few days suit will bo 5 -I- brought in tho Supremo court of ! I this state, to establish tho legal- -f - ity of tho recent issuo of $G00,- -I 000 water and sewer bonds, i I- As is generally known, tlieso 5 bonds have boon sold and now S tho courts will be askod to pass -J 'I- on tho bonds, as was done in tho j caso of the $1,000,000 sower and I- water bonds issued during tho v Morris administration, and as is t- tho general custom in all such r ! cases. A taxpayer will attack tho r bonds in a friendly suit, and it I is believed tho Supremo court I will make way for a speedy ! -I- hearing of the case. : Bond buyers generally demand v 4 that the courts pass on tho legal- 4 I- ity of bonds early after their -I 4 issue, for tho reason that should 4 4 uny point bo raised against an 4- 4- issue years thoreaftor it is moro 4 4- difficult and moro expensive to 4- 4- adjudicate tho matter than when 4 4- tho bonds aro first sold. 4 4 This action will not interfere 4 4 with plans made for the expend!- 4 4 turo of tho proceeds of tho 4 4 bonds, as it is conceded that tho 4 4 record is clear aud a domand for 4- 4 tho bond issuo camo from several 4 4- responsible sources, and the city 4- 4 is sufficiently Indemnified in tho '4 4 recent salo by a certified check. 4- 4