Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1919-02-07
FRIDAY, FEB. b, 1919.
NECESSARY LEGISLATION.
WITHOUT stopping to enter into discus

of the details of the provisions of House
Bill No T. introduced in the State Legislature by
the Committee on Highways, we wish to give the
general outlines of the bill our hearty endorse
ment. The bill is an act providing for the issu-
ance and disposal of State bonds and appropriate
ing the proceeds of the sale thereof for the con-
struction, maintenance and repair of State Roads
and the building of bridges thereon, and providing
a FUND for the payment of interest on and the
redemption of said bonds.
The paramount issue at tpresent to this part
OF the state is good roads Without them we can
accomplish nothing. With them, our problems
OF growth and existence are largely solved There
Is nothing we know of for which state funds or
the proceeds from the sale of bonds can be ex-
pended that will bring as great returns as good
roads. We hope to see before many years a good
concrete highway from one end of the state to
the other and this proposed bill will be big step
In that direction 1t is fathered by the Commit
tee on Highways, and ought to become a law.
The full text of the bill follows:
BE Enacted by the Legislature of the State of Utah
Section l. The state board Of loan commissioners
rs hereby authorized to provide for and negotiate, as
needed for the purpose of this provided loan for
the state in the sum of $S,0000O00O by issuing ne
gotiabe coupon bonds Of this state therefor under
rules and regulations not in conflict herewith to be
prescribed by said board said bonds to bear interest
at rate to be fixed by said board not exceeding four
annually on the first day of January and July of
each year. said bonds to be signed by the governor and
secretary of state have the great seal of the state
ahxed and be counersgned by the treasurer and
registered by the state auditor in book be kept by
him for that purpose Such bonds shall not be sold
Tor less than their par value and accrued interest Said
bonds shall run not longer than twenty years. and the
faith and credit OF the state is hereby pledged for their
payment and for the payment of the interest accru-
ing thereon.
Section /. The state board of loan commissioners
is hereby authorized to provide the necessary en-
graVed bonds to carry out the provisions OF this act
and the expense thereof, and all other necessary and
incidental expenses incurred by said board in the pre-
paration and negotiation of said bonds shall be paid
out of the funds derived from the registration of motor
vehicles, upon the approval of the state board of ex
aminers. Before the issuance of said bonds the state
treasurer shall give to the State of Utah an additional
bond with securities provided by law in the sum of
$lOOOOOOO which bond shall be approved by the state
board of examiners and deposited and filed with the
secretary of state and the said state treasurer shall
stand charged upon said bond and upon his Official
bond for the faithful performance of such duties as
are required of him under the provisions of this act
or that may be prescribed by the board of loan COM
missioners.
Section g. The state auditor shall draw his warrant
the state for the amount of interest which
shall fall due the first day of January and July of
each year which said interest warrant or warrants
shall be drawn at least ten days prior to the maturing
OF the interest, and such may be necessary is
hereby appropriated and set aside from the motor
vehicle registration fund provided by Section 1913
Compiled Laws of Utah, 1917 relating to the fees for
registration of motor vehicles and chauffeurs or in
case there be not sufficient money in said fund such
sum as may be necessary is hereby appropriated and
set aside from the general fund of the state or from
such other fund as may be provided by law for use
from year to year to pay the interest said bonds
Section 4, During the year 1923 and annually
thereafter for the period of fifteen years there shall
be and is hereby set apart and appropriated from the
said motor vehicle registration fund in case there
is not sufficient money in said fund there shall be sci