The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-10-21

redemption or SINKING IuuO IOr tu6
! payment OF the said bonds at ma
turity and the interest thereon as
| the same becomes due; appropriate
ing the moneys which shall accrue
to such sinking fund for the pur-
pose for which provided; directing
| the Department OF Public Works
| how to apply the proceeds of the
sale of said bonds hereby Outhor-
lied; and providing for the approval
| or rejection hereof by the people of
the State.
Be it enacted by the Legislature of the
! State OF Idaho:
Sec /. For the purpose of provid-
ing moneys to be used in paying for a
portion of the cost of laying out, sur
veying and constructing a system of
state highways in the state OF Idaho
a loan OF $2,O00,00O is hereby author
lied to be negotiated upon the faith
and credit of the state Of Idaho.
| Sec. g. The State Treasurer is
hereby authorized, empowered and d.
| rected to issue bonds Of the state in
such denominations as he deems adj
visable, aggregating the amount of the
! loan authorized in section /, 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 a rate which shall not ex-
coed the rate of five percentun per
annum, and such interest shall be paid
in equal semi-annual installments up
on the LIST day of January and the LIST
day of July in each year. Such in
k<.IJ 0f sv,fn ho1 owl
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 l to 40 in
elusive. Any or all Of said bonus may,
at the pleasure of the state, ge paid
off and redeemed after 10 years from
the date of issuance.
Sec. g. 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
secrtary 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 register |
fully and properly describing each
bond and the interest coupons at |
in which bonds heretofore issued by |
the state of Idaho are described in
the registers thereof kept in the office
of the state auditor. Having SO regis
tered the same, the state auditor shall |
deliver the bonds to the state treas
urer 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
If all bonds issued under the provis-
ons of this act, which register shall
show all those things required to be
shown by the register thereof kept in
he office of the state auditor and such
,ther information with respect thereto
Is the treasurer shall deem it proper
ind necessary to record.
Sec z. When ready to make deliv-
Try of same the state treasurer shall
ign each of said bonds with his own
roper name and in his official capa-
ity as such state treasurer and each
# the interest coupons attached there
o shall have the Autographed or
rinted facsimile signature of the
tate treasurer, which signature shall
ind the state of Idaho The state
reasurer shall make delivery of the
onds to the purchaser thereof on be-
alf of the state of Idaho and shall
the same time make collection from
aid purchaser of the full amount of
ne price for which the same are sold
Sec. s. All moneys received from
ne sale of the Idaho state highway
onds. fourth issue, shall be paid into
lie Idaho state highway fund Such
loneys are hereby appropriated and
lade available for the laying out sur
eying and constructing of a system
state highways in the state of Ida
D. including all bridges, culverts and
rades and the purchase of rights of
ay forming a part thereof or being
ecessary to be had, used or occupied
connection Herewith and for such
lrposes only. No moneys shall at
ny time be withdrawn permanently
ON 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-
gned as the state highway redemp-
On fund fourth bond Issue, out of !
hich shall be paid the principal and
terest upon the bonds to be issued
lder and by virtue of the provisions
this act there is hereby levied tax
four-tenths of one mill 100000 up
| each dollar in value OF the taxable
operty within the state, the same
be known as the state highway tax,
ID the proceeds Of the same are
reby appropriated and set aside until
oh time as the said Idaho state
oh wav hOuds fourth issue and all