Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-10-29

SAID BONDS HEREBY AUTHOR
lied, AND PROVIDING FOR
THE APPROVAL Or REJECTION
HEREOF BY THE PEOPLE or
THE STATE.
BE il Enacted ~ tho Legislature
Of thu State OF Idaho.
SEC. 4. For the purpose 81 pro.
viding moneys to be used In paying
for . portion Of the cost % laying
out, surveying aud constructing u
system u state highways Ia the state
OF Idaho q loan OF So, 600 Gee Is here
by authorized 10 be negotiated upon
the faith and credit Of the state OF
Idaho.
SEC. 2. The State Treasurer is
hereby authorized, empowered and
directed TO issue bonds OF the state
in such denominations as no deems
advisable, aggregating the amount
OF the loan authorized in section /.
which shall be known as Idaho State
Highway Bonds, fourth issue. and
shall become due 20 years from date
of their issuance. Such bonds shall
bear interest at q rate which shall
not exceed the rate or five percentum
per annum, and such interest shalt
be paid In equal semi-annuat INSTALL
ments upon the 1st day or January
and the list day OF July in each year.
Such installments OF interest shalt
be evidenced by 40 interest coupons
attached TO each bond in such man
ner that they may BIO detached and
removed without mutilating either
the bond or the coupons themselves
and be numbered cOnsecuttvely from
l to 80 Inclusive ANY or all Of said
/ bonds, may at the pleasure Of the
state. be paid Oft and redeemed after
/ 10 years from the date Of issuance.
/ SEC. 3. Tho state treasurer
shall cause 10 DO printed or litho-
4 graphed suitable bonds IN proper
form with interest coupons attach
ed there TO for the purpose OF car
rying out the provisions Of this act.
SEC. 4. All bonds issued under
and by virtue of the provisions OF
this act shall DO signed BY tho gov
ernor OF the state OF Idaho with his
own proper name and IN hiH official
capacity. They shall likewise be sign-
ed by the secretary og state Ia his
official capacity and be Ruthentica-
ted by having attached 20 each the
great seal Of the state OF Idaho.
/ SEC. 5. After being signed by
4 the governor and the secretary Of
state and being authenticated as
hereinbefore provided the said bonds
shall be delivered TO the state audit
70 who shall make and keep In his Of
flee q register fully and properly de-
cribing each bond ana the interest
coupons attached thereto In the man
ner and form in which bonds hereto
fore issued by the state OF Idaho are
described In the registers thereof
kept In the office o. the state audit
or. Having 80 registered the same,
the state auditor shall deliver the
bonds TO the state treasurer and
shall charge tho treasurer with the
full par value thereof.
| SEC. s. The state treasurer
shall make and keep in his office q
register OF all bonds issued under
the provisions OF this act, which re-
Rister shall show all those things To-
quired to be shown BY tho register
thereof kept In the office OK the state
auditor and such other information
with respect thereto as the treasurer
shall deem It proper and necessary 70
record.
SEC. z. When ready to make
delivery OF same the state treasurer
shall sign each OF said bonds with his
own proper name and his official
capacity as such state treasurer and
each OF the interest coupons attach
ed thereto shall have the lithograph-
ed or printed facsimile signature OF
the state treasure, which signatures
shall bind the state Of Idaho. The
state treasurer shall make delivery
Of tho bonds to the purchaser there
OF on behalf Of the state Of Idaho
aud shall at tho same time make
collection from said purchaser Of the
full amount Of the price for which
tho same are sold.
SEC. I. All moneys received
from the sale Of the Idaho state high
way bonds, fourth issue. shall be
paid into the Idaho state highway
fund. Such moneys are hereby APP
propriated aud made available for
tho laying out, surveying and con-
structing of @ system OF state high
ways in the state OF Idaho, Includ-
Ing all bridges, culYerts and grades
and the purchase Of rights q way
forming 8 part thereof or being ne
cessary To be had, used or occupied
ia W0NA@NAANA AAASAN I'll anu III NASA
purposes only. No moneys shall at
any tims be- withdrawn permanently
from said fund except upon war
rant Of tho state auditor.
SEC. .. For the purpose OF
Treating a fund, which said fund IL
hereby designated az the state high
way redemption fund, fourth bond
issue. out OF which shall be paid tho
principal and interest upon the bonds
10 be issued under and By virtue Of
the provisions Of this act there Is
hereby levied q tax Of four-ienthn
OF one mill ls.0e04) upon each dol
lar Ia value Of the taxable property
within the state, thu same 10 be
known aa the state highway tax, and
the proceeds Of the same are here
BY appropriated and set aside until
such time as the said Idaho state
highway bonds, fourth issue, and ali
interest which shall have accrued
thereon ara fully paid and redeemed
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