The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-09-02
Be it enacted by the Legislature Of the
In ~
State of Idaho

Dc IL eudCl0u ny Lie Legislature w LIZ
! State of Idaho
| Sec. 1. For the purpose of provid
ing moneys to be used in paying for {
portion of the cost of laying out, sur
veying and constructing a system O.
state highways in the state of Idaho
loan OF $2,000,000 is hereby author
lied to- be negotiated upon the faith
and credit of the state Of Idaho
| Sec. 2. The State Treasurer is
hereby authorized, empowered and di-
| rected to issue bonds of the state in
such denominations as he deems ad-
visable, aggregating the amount OF the
| loan authorized in section l., which
shall be known as Idaho state high
| way bonds, fourth issue. and shall be-
come due 20 years from the date OF
their issuance. Such bonds shall bear
interest at rate which shall not ex-
coed the rate of five percentum per
annum, and such interest shall be paid
in equal semi-annual installments up
on the 1st day of January and the LIST
day of July in each year. Such in
stallments of interest shall be evil
denced by 40 interest coupons attach
ed to each bond in such manner that
they may be detached and removed
without mutilating either the bond or
the coupons themselves and be num-
bered consecutively from 1 to 40 in
elusive. Any or all of said bonus may,
at the pleasure of the state, Sc paid
off and redeemed after 10 years from
the date of issuance.
Sec. 3. The state treasurer shall
cause to be printed or autographed
suitable bonds in proper form with
interest coupons attached thereto for
the purpose of carrying out the pro-
visions of this act.
Sec. 4. All bonds issued under and
by virtue Of the provisions of this act
shall be signed by the governor of
the state Of Idaho with his own proper
name and in his official capacity.
They shall likewise be signed by the
SECRETARY of state in his official capac-
ity and be authenticated by having at
tached to each the great seal of the
state of Idaho
Sec. 5. After being signed by the
governor and the secretary Of state
and being authenticated as hereinbe-
fore provided the said bonds shall be
delivered to the state auditor who shall
make and keep in his office a register
fully and properly describing each
bond and the interest coupons at
tached thereto In the manner and form
in which bonds heretofore issued by
the state of Idaho are described in
he registers thereof kept In the office |
If the state auditor. Having so regis !
erred the same, the state auditor shall |
leliver the bonds to the state treas
lrer and shall charge the treasurer |
With the full par value thereof.
Sec. 6. The state treasurer shall
make and keep in his office a register
{ all bonds issued under the provis-
0ns of this act, which register shall
how all those things required to be
hown by the register thereof kept in
he office of the state auditor and such
Their information with respect thereto
8 the treasurer shall deem 1t proper
nd necessary to record
Sec. 7. When ready to make deliv-
ry of same the state treasurer shall
ign each of said bonds with his own
roper name and in his official capa-
lty as such state treasurer and each
the interest coupons attached there
, shall have the autographed or
tinted facsimile signature of the
ate treasurer, which signature shall
nd the state Of idaho. The state
oasurer shall make delivery of the
>nds to the purchaser thereof on be-
IF of the state of Idaho and shall
the same time make collection from
id purchaser of the full amount of
e price for which the same are sold
Sec. 8. All moneys received from
9 sale of the Idaho state highway
nds, fourth issue, shall be paid into
e Idaho state highway fund. Such
0neys are hereby appropriated and
ade available for the laying out, sur
ying and constructing of a system
state highways in the state of Ida
, including all bridges, culverts and
AIDES and the purchase OF rights of
" forming a part thereof or being
cessary to be had, used or occupied =
connection Herewith and for such
rposes only No moneys shall at
y time be withdrawn permanently
I'm said fund except upon the war
Mt of the state auditor.
Sec. 9. For the purpose OF creating
fund.- which said fund is hereby de-
ned as the state highway redemp-
n fund fourth bond issue, out of
itch shall be paid the principal and
crest upon the bonds to be issued
der and by virtue Of the provisions
this act there is hereby levied a tax
four tenths of one mill ($.cOO4) up
each dollar in value of the taxable
perry within the state, the same
be known as the state highway tax,
the proceeds of the same are
eby appropriated and set aside until
h time as the said Idaho state
hway bonds, fourth issue, and all
crest which shall have accrued
reon are fully paid and redeemed
, moneys accrufng from the source
70 mentioned, which are hereby
erted, appropriated and set aside
the purpose above set forth, shall
by the state auditor and state treas
r credited to and placed in the said
te highway redemption fund, fourth
Id issue, out Of which fund the state
asure- shah pay the interest upon
Idaho state highway bonds, fourth -