Salt Lake Telegram | 1928-01-01 | Page 35 | Refinancing of Water Co. Major Accomplishment of Land Board

J silL cr r S S S IR Refinancing financing S of of wa Water Co Major Accomplishment of Land Board During the past year the state te land board has several transactions of ot more or less magnItude magnitude magni magnI- tude tude- the most important of ot which was a n. refinancing of the tho Central Utah Water ater company successors S In Interest to the Sevier River Land and Water Vater company During the years 1918 and and 19 J the land board loaned to the Sevier River Land and Water company and the Lynndyl Townsite company the sum of ot The rhe Ther r project i had never b been en successfully operated operated oper oper- and but very little Interest had been paid on the obligation n between the tile years 1919 and 1927 so BO that tho the total amount of or the obligation to the state was as approximately It became necessary In order to protect the investment which had already been made to take takeover takeover over the entire project and advance an additional The contract was fInally written by the Central Utah Water compan corn coma pany pan which gave save a as security ity for forthe forthe forthe the obligation all of or tho thio assets of ot the company on oPo a year three amortization basis semiannual payments pay pay- ments of or 1 Total amount to bo be paid during durInS' the life of the thO contract Land sales during year the have amounted to about acres as follows Sixty four applications ns to purchase purchase pur pur- chase acres applications Uca- Uca ti-ond ti to lease grazing acres seven forty-seven applications to lease mining acres 61 applications to select acres Inv Investments by funds Agricultural Agricultural tural college deaf and dumb Insane asylum Institution for blind miners' miners hospital 79 79 79 miners' miners hospital interest normal school chool public buildings reform school school- 1 reservoir reservoir int interest rest 65 65 school chool school of ot mines university Total Two hundred and twenty six sh loans have been foreclosed d since statehood aggregating 9 two eighty-two properties have been leased during durInS' 1927 1921 36 properties open for lease 1928 ninety five new applications for loans renewals fifty properties properties properties prop prop- S I S sold s