The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1919-04-18
COMPLETE TEXT OF GOOD
ROADS AMENDMENT

be issued and sold during such Pc
riod Each of said bonds shall be
in the denomination of one hundred
(S100.00) dollars, or some multiple
thereof, and shall bear interest from
date of issue, payable semi-annually
at rate not to exceed four and one
half az per cent per annum, and
said bends shall be exempt from ev.
cry species of state, county, district
and municipal taxation, and no bonds
shall run for more tnan twenty-five
years from the date of issue. They
shall be signed by the governor, at
tested by the secretary Of state, un-
der the seal Of the state, counter
signed by the state auditor, and en-
dorsed by the state treasurer. In
terest coupons with Autographed fac
smile signature OF the state treasur-
er shall be attached to said bonds.
and said bonds may, at the request
OF the holder thereof be registered
with the state auditor. Said bonds
when duly executed by said officers
shall be deposited in the state treas
ury until sold, and when sold, the
proceeds thereof shall be covered
into the state treasury to the credit
of the State Road Bond Fund, which
is hereby specifically created and
any bonds sold hereunder shall be
publicly advertised for thirty days
in such manner as said commission
shall direct, ana shall be sold to the
highest and best bidder for cash,
and no bonds shall be sold for less
than par and accrued interest All
interest on outstanding bonds so is
sued and sold shall be paid semi-an-
nually, and two million $4,000, ,000l
dollars Of the principal of said bonds
shall he paid each year, and the
bends eyidencing the same retired,
until all outstanding bonds herein
authorized shall have been paid and
retired The full faith and credit of
the state Of Oklahoma is here
by pledged for the prompt and
iull payment Of the principal Of said
bonds so sold and the interest ac-
eruins thereon.
After this amendment becomes
fully operative and until all of said
bonds with accrued interest shall
have been paid and retired, there
shall be collected annually by the
state in the same manner and at
the same time as other state reye
nue. is collected such a sum in addi-
tion to the ordinary expenses of the
state as shall be required and suffi- |
cient to pay the principal of said
bonds and accrued interest thereon |
as herein provided, and it is hereby |
made the duty of all officers charg |
ed by law with any duty in regard |
to the levy and collection of said |
revenue to do and perform each and |
every act which shall be necessary |
to levy and collect such additional |
sum; provided, that nothing herein |
contained shall be construed to af- !
feet or alter the provisions of Sec
ton of Article 10, of this Constitu- |
ton
! Until otherwise provided by law,
the funds arising from the sale Of
said bonds are hereby made availa-
Bile, and so much thereof as may be ]
necessary is hereby appropriated, for |
the purpose of meeting and comply
ing with the requirements and con
ditions of the Acts cf Congress here
tofore or which may hereafter be
passed. approprating funds for or in
aid OF construction Of good roads;
provided, the roads 50 constructed
are along the routes OF the state
wide system herein established and |
should the federal government at
any time construct solely as a fed
eral project, durable hard surfaced
rl ads along any part of the routes
herein designated, the said commits
sion may accept such roads in lieu
CT state construction thereof and
thereafter such roads shall come ur-
der the provisions Of this amend
ment
I Immediately after the provisions
hereof become fully operative, the
said commission shall cause such
preliminary surveys t. be nadc ana
such preliminary work - be done
rs may be necessary or proper for
the expeditions starting ol the con-
sttuetion work herein contemplated,
and shall cause such bonds as are
to be issued and sold
hereunder during the first year af.cr
to be printed and en-
~raved and duly executed by the
proper officers. and when so execut-
ed placed in the state treasury uati'
sold as hereinafter prescribed; bondq
to be issued and
icld hereunder during the second,
third and subsequent years after date
Of authorization shall be prepared
executed and deposited in the state +
treasury during such years in like
manner as those authorized during
he first year All bonds issued and
sold duriag the first year after au- ;
hCrization shall bear date of August {
lst, 1919, and all bonds issued and
sold thereafter shall bear date OF J
August lst Of the year in which sold:
III of said bonds shall be numbered s
and payable in the or. {
Ter numbered at the rate OF two !
million (S2,00O,000) dollars each year. {
Ieginning August LIST. 1920 The in G
crest on all of said bonds issued {
nd sold shall be payable on the first '
ay of August and the first day OF 4
february of each year as the same a
natures. The said bonds and inter- u
st thereon shall be payable in gold r
DIN a the United States at the Of s
ce of the state treasury CT this s
tate, or of the fiscal agency Of the Il
tate at the option Of the holder 4
hereof. Said bonds so issued and S
Did shall on the day of their ma II