The Springdale news., 1915-12-17

after January first, nineteen hdndreh and eighteen, at par, with accrued in- terest, coupon or registered bonds of the United States ill such form as he may prescribe. in denominations of S20, or multiples Of that sun, said bonds to be payable in coin sLsty years from the date Of issue and to bear interest payable in coin semi annually at the rate Of three per cntum per annum, the total amount of said bonds not to exceed $t,003,- 000 900, and the issue and sale of same not to exceed such amounts as may be necessary from time to tune to enable the Treasurer of the Unit ed States to make payments of sa1ar- ies of officers, agents, engineers, and employees, and for expenditures Tn the preliminary work and in the wors of laying out, construction, repairs and maintenance of the highways to be built under the provisions of this Act. Bonds issued under the author
 ty of this Act, or the income there from, shall not be subject to taxation of any kind for any purpose. Bonds authorized y=this section shall be first offered al par as q popular ban under such regulations. prescribed by the Secretary. of the Tveasary, as Will gjee opportunity b the citizens Of the United States b 1e4-.4=tpate n the subscriptions to such loans. and in allotting si1ea bonds the several subscr. .ptions fer the lowest amounts shall be first allotted Any portion Of any issue Of said bonds not stab- scribed fer as above provided may be disposed of by the Secretary of the Treasury at not less than par, under such regulations as ks may prescribe, but no commissions shall be allowed l thereon; and sun net exceeding one eaty-fifth of one pen ee-tun e. the amount Of the bonds herein ad- thorized is hereby appropriated, olt of any money in the Treasury Tot oth- erwise appropriated. 10 pay the ex- pense of preparing, advertising, and issujng the same.
 Sec. 3. That as soon as praetiea- be after January first, nineteen h4n- dred and eighteen. the sum of sf,00o .ooo shall be expended annually in each ate under the direction ef the Uni.ed States Highway Commiss sion, hereinafter constituted, with OIL regard to population. taxable property. or extent os territory in said States. in the construction. main teaance. and extension shall be con tfnued until the fund above provided for shall be exhausted.
 Sc. That there is hereby created United States Highway Commission to carrg=oat the pro visions of this Act. to 5e composed ot competent experts iH road budding, four of whom shall be selected by the President Of the United States
 with the advice ard consent Of the Senate, and three members from each Stare to be appointed by the G9v- ernor and confirmed by the highest 1 legislative body Of said State. the first foar members acting with the last mentioned members to constitute the United States Highway Commis- sion for the different States reapee- t5vely Each of the first four named commissi oners shall receive as salary the sum of $l0000 annually. and the last named eom:nis '>ners Q receive B 900 annually, each commissioner tC receive his necessary expenses when travelling in the performance of his duty as such commissioner Member of the commission shall give boad for the faithful performance ef t1etr dat- 'es in whatever sum the Secre eary of the Treasury shall require.
 See ;. The four members Of the United States Highway Commission first mentioned in th!s Al shaa have power to make all f.eedfel EsLJss for the proper administration of this At, l tht naymcnt of salaries, expenses, for mat erials, labor and the safeglaard- ing of all funds und Pr tts control. and shall be empowered to employ ard fix the salaries of all clerks, engin- eers, and employees.
 Snc 5. Said commission shaFl have its head office in the District of Col umbia. but shall maintain one public highway division in and for each state where the local members of said commission shall have their of ficns. Said commission may require the assistance and cooperation of the officers and employees of any depart ment in its work.
 Sec. : That before any State shall receive the benefits of this Act, the legislature of said State shall assent to the provisions of his Act hy res olution duly passed and approved by governor of the State.
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