OCR Text |
Show NOTICE OF SALE OF BONDS BY SALT LAKE CITY, UTAH. To whom It may concern: Notice Is hereby given That whereas, At an election duly held in Salt Lake City. Utah, on the- 3rd day of January, 1906, upon the proposition of said city Incurring bonded indebtedness to Increase Its water supply, and also upon up-on the proposition of said city Incurring bonded indebtedness to establish a sewer system in the southern and western portions por-tions of said city, a majority of the qualified qual-ified electors of said city voting at said election voted in favor of Incurring said bonded indebtedness on both propositions so submitted to them, and thereby authorised au-thorised said Salt Lake City to incur a bonded Indebtedness in the sum of eight hundred and fifty thousand ($S50.000) dollars dol-lars to Increase and improve the water supply of said city, and also a bonded, indebtedness in-debtedness In the sum of one hundred and fifty thousand ($150,000) dollars to establish estab-lish a sewer system In the southern and western portions of said city; and. Whereas. On the 23rd day of January. 19U6. the City Council of Salt Lake City passed a resolution duly approved by the Mayor of aald city authorizing and directing di-recting the Mayor and Recorder of Said Salt Lake City to advertise for bids f r said bonds; Now, Therefore. Notice is hereby given that 8alt iJike City proposes to Issue and sell bonds of the face value of eight hundred hun-dred and fifty thousand fS5o.0X dollars to Increase ar.d Improve the water supply sup-ply of said city, and bonds of the faco value of one hundred and fifty thousand ($150,000) dollars to establish a sewer system sys-tem in the southern and western portions of said city, and that bids therefor are asked. Said bonds snail bear Interest at a rate not to exceed four I4 per cent per annum, an-num, which interest shall be payable semi-annually: said bonds shsll become, due and payable at the end of twenty "JL4Jr years from the date of Issue, with the op7 tlon reserved to the city to pay or refund the same at any ttme after the expiration of ten (10) years after the date of issue, and shall be of such denomination or denominations de-nominations as the City Council may hereafter determine, and the net revenue from said water system shall be set apart for and shall be a sinking fund for tha payment of said bonds and interest thereon: there-on: and. Whereas. It Is not deemed expedient to issue all of said bonds and pay useless use-less Interest thereon during the time the funds therefor are lying idle, bids are required re-quired to be made upon said bonds to be purchased and paid for in the following manner: WATER BONDS. Two hundred thousand (tMO.000) dollars thereof on April 1. 1905. Two hundred thousand (t0,0) dollars thereof on July 1. 1905. Two hundred thousand ($0.00i) dollars thereof on October 1. 1906. And the remaining two hundred and fifty thousand (50.W) dollars on December Decem-ber 1, 1906. SEWER FONTS. Fifty thousand ($V.'K) dollars thereof on April 1. 19o5. Fiftv thousand i$50.r0) dollars thereof on July 1. 16. Fiftv thousand t$50.' dollars thereof on October 1. ll. . . Each and everv bid upon said bonds shall be accompanied by a duly "certified check or draft in the sum of ten thousand thou-sand (llO.OOn) dollars, payable to the Treasurer Treas-urer of Salt Lake City, as a guarantee of good faith on the part of the bidder. ad to reimburse said city for Ite loss and expense in this behalf In case the bidder should not perform his bid after acceptance accept-ance thereof by the city. All bids shall be well seaied and shall be placed iu the hands of the City Recorder Re-corder of Pflt 1-ake City on or before 7:30 o'clock p. m.. on the 2.th day of February. Febru-ary. 19i. and the same will be opened at MNo b?ds"for less than the face value of said bends will be considered. Sslt Lake City reserves the right to reject re-ject any and all bids, and to accept any bid advantageous to said city. Dated Januarv 24, 1906. (SeaU RICHARD P. MORRIS. 1 Mavor of Salt Lake City. J. S. CRITCHLOW. Recorder of Salt Lake City. |