The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1919-02-21

less a differentp time is sother-
wise provided, turn the same
over to the state treasurer who
shall enter. such revenues in
/ the account Of the State High
\ way Fund provided the said
State Highway Fund shall be
expended under the jurisdic-
igtion Of the State Highway Com
mission.
Section A. The State High
way Commission is hereby au-
tthorized, empowered and di-
ifrected, during. the next five
years, to sell in addition to the
.!bonds heretofore authorized,
!, the bonds Of the State of Ore
gon as hereinafter provided, in
an amount sufficient to raise
enough money to meet the re-
Iquirements of this Act, not. to
exceed the sum of ten million
dollars ($10,000,000,00); pro-
'Iyided, that said State Highway
Commission may, from time to
time, issue said bonds lin such
amount as in their judgment
the efficiency of road constrnc-
tion NAV require. and in such
denominations as may be most
marketable.
Section 5. The State High
way Commission is hereby au-
Ithorized, empowered and di-
Irected to enter into such con-
tracts, appoint SUCH officials,
and do any other act or thing
necessary to fully meet the re-
Iquirementsl Of this Act.
Section 6. The Attorney
General shall. at'the request of
the State Highway Commission,
prepare a form Of interest bear
ing gold bond Of the State Of
Oregon, to Sbe sold in order TO
provide funds for the carrying
out of the purposes of this Act.
Said bonds shall be numbered
lserially beginning at Number
IA, and shall be payable in the
order Of their issuance. Said
State Highway Commission is
hereby authorized, empowered
and directed to issue bonds OF
the State Of Oregonfor the pur-
pose ofscarrying OUT the pro
visions Of this Act, in such de-
nomination as in the judgment
of the State Highway Commits
sion will be the most market
liable. The bonds issued in any
year under the provisions of
this Act shall be payable one
twentieth each year, commence
ing with the fifth year after the
issuance thereof. One-half of
1.-THE bonds payable each year
shall be payable on the first
day Of April and the other half
ION the first day of October.
Said bonds shall mature within
/ twenty-five years from the
date Of issue, and each bond
shall bear upon its face a state
ment showing the date of its
maturity. Said bonds shall
bear interest at not to exceed
the rate of four and one-half
per cent per annum, payable
semi-annually on April first
and October first. Principal
land interest on said bonds shall
be payable at the office of the
State Treasurer at Salem, Ore
gon, and if said State Highway
lCommission shall so direct,
said bonds may also provide
for payment at some other
place. Said bonds shall be in
a form embodying an absolute
Ipromise Of the State Of Oregon
Ito pay the amount thereof in
gold coin Of the United States
Eof America of the value of
weight and fineness of the,
date of such bond, and shall be
lin such denomination as the
State Highway Commission
shall elect. They shall be
signed by the Governor, Secre-
tary Of State and State Treas
urer. Said bonds shall bear
coupons evidencing the inter-
est to become due thereon for
each instalment Of such inter
est, upon which shall be print
ed the facsimile of the sigma.
lures .of said officers. Said
State Highway Commission,
may, at its option, cause a part
or all of said bonds to be pay
able to the purchaser in the Of
flee of the State Treasurer and
provide an appropriate indorse-
ment upon each of such bonds