The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1919-04-18

provided, the state treasurer shall
sell the same to the highest and best
bidder or bidders for cash from time
to time, and in such numbers and
amounts as the State Road Commits.
sion may direct subject to the limi-
tations and restrictions herein pro.
vided. Such directions to the state
treasurer shall be given by the said
commission by resolution duly pass
ed and adopted, and the said reso-
luton shall specify the amount of
money which in the judgment OF
said commission shall be required
at such time, and said commission
shall direct the state treasurer to
sell such number of said bc&ds as
may be required to raise said amount
of money, and said bonds shall be
sold in consecutive, numerical order
commencing with number one ID.
The state treasurer shall not accept
any bid which is less than the par
value of the bonds plus the interest
which has accrued thereon between
the date of sale and the last pre-
ceding interest maturity date, and
all sales of said bonds shall be sub
ject to approval by the commission
The state treasurer may at the time
and place fixed by said commission
for said sale, continue such sale as
to the whole or any part of the
bonds offered to such time and
place as said commission may at the
llme of such continuance designate
Before offering any of said bonds
for sale, the treasurer shall detach
therefrom all coupons which have
matured or will mature before the
date fixed for such sale, and cancel
same. The state treasurer shall give
notice of the time and place of sale
for at least thirty days prior thereto
by public advertisement through
such channels and for such length
of time as may be prescribed by the
State Roads Commission by resolu-
ton. All expenses incurred in the
preparation of said bonds, and in the
advertisement of the sale thereof as
herein provided, shall be paid out of
the State Road Revolving Fund here
in provided for. Immediately after
the sale of any such bonds the state
treasurer shall cover into the state
treasury W IIlt CiCulI VI JllC EOldLG
Road Bond Fund the total amount
received for said bonds. except such
amount as may have been paid al
accrued interest thereon. The
amount that shall have been paid
at such sale as accrued interest on
the bonds sold shall be by the state
treasurer Immediately after such
SALE covered into the state treasury
to the credit of the General Revenue
Fund of the state.
, The State Road Bond Fund shall
be used only for the purpose Of ac-
quiring, improving and constructing
said state wide system of durable
hard surfaced roads, and the eX
pense incident thereto, and all pay
ment out of said funds shall be
made by the state treasurer upon
warrants drawn by the state auditor
based upon properly verified claims
audited and allowed by the State
Road Commission, and certified to
by the chairman thereof, and also
approved by the proper official hay
ing personal knowledge of the facts
upon which such claims are based
provided, however, there is hereby
created a fund in the state treasury
to be known as the State Road Re
Fund, and there is hereby
appropriated out of any money in
the state treasury the sum of One
Hundred Thousand ($100,000) dollars
70 the credit of said Revolving Fund.
and the state auditor and The state
treasurer shall transfer upon their
respective books the said sum to the
credit Of said Revolving Fund. The
moneys in said State Road Revolving
Fund, or such part thereof as the
State Road Commission shall deem
may until otherwise pro
vided by law, be expended from |
time to time upon the claims of the |
officer having knowledge of the facts |
upon which said claims are based |
by the State Road Commits
sicn, for the purpose of making cash
payments in advance to adequately |
bonded employees for help, supplies
and incidental expenses incurred |
during the operation of making sur
veys and investigations, operating
gravel pits. crushing plants, and for
such expenditures as are necessary
Or proper to carry out the provisions
Of this amendment Upon receipt
Of such claims so approved, it shall
be the duty of the state auditor to
lraw his warrant in favor of the per-
son or persons therein named, and
he state treasurer shall pay the
same out of the said State Road
Revolving Fund On or before the
Gth day of each month thereafter
he State Road Commission shall
Iudit all expenditures during the pre-
eding calendar month of the money
70 withdrawn from said Revolving
'und, and transmit to the state aud
tor a certified itemized statement
howing all such expenditures, ac-
by proper vouchers and
eceipts therefor with the approval
f said commission endorsed there
II. The state auditor shall thereup-
n draw his warrant upon the State
load Bond Fund in favor of said
,evolving Fund for the aggregate !
mount of such expenditures, and ]
pom the surrender of such war {
ants, endorsed by the chairman o. {
aid commission, the state treasurer s
hall transfer the amount thereof /
pOn the books of his office from Y
le S'ate Road Bond Fund to the /
tate Road Revolving Fund to BE-
s-exrended as herein provided. +