The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-10-11

y, .
Of Idaho Falls, Idaho.
. IT. CARRUTH,
adv. 122-125-12s-1S1-1S4- Register.
CHAPTER 1913.
III. B. No. 274).
AN ACT
FOR THE ISSUANCE
AND SALE OF STATE BONDS IN
THE SUM OF $4,000, 900; APP
PROPRIATING THE PROCEEDS
OF THE SALE THEREOF FOR
THE PAYMENT OF A PORTION
OF THE COST OF LAYING OUT,
SURVEYING AND CONSTRUCT
ING A SYSTEM OF STATE HIGH
WAYS IN THE STATE OF IDA
HO; PROVIDING BY A TAX
LEVY A REDEMPTION OR SINK
ING FUND FOR THE PAYMENT
OF THE SAID BONDS AT MA
TURITY AND THE INTEREST
THEREON AS THE SAME BE-
COMES DUE; APPROPRIATING
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKING
FUND FOR THE PURPOSES FOR
WHICH PROVIDED; DIRECT
ING THE DEPARTMENT OF
PUBLIC WORKS HOW TO APP
PLY THE PROCEEDS OF THE
SALE OF SAID BONDS HEREBY
AUTHORIZED; AND PROVID-
ING FOR THE APPROVAL OR
REJECTION HEREOF BY THE
PEOPLE OF THE STATE.
Be It Enacted by the Legislature of
the State of Idaho:
Section 1. For the purpose of
providing moneys to be used in pay
ing for a portion of the cost of lay
ing out, surveying and constructing
4 system Of state highways in the
state of Idaho a loan of 100000
IS hereby authorized to be negotiat-
I'd 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
n such denominations as he deems
aggregating the amount
If the loan authorized in section /,
which shall be known as Idaho state
highway bonds, fourth issue, and
shall become due 20 years from the
late of their issuance. Such bonds
shall bear interest at rate which
shall not exceed the rate of five
DER centum per annum, and such
interest shall be paid in equal semi
annual installments upon the LIST
lay Of January and the LIST day of
July in each year. Such install
nents of interest shall be evidenced
~ 40 interest coupons attached to
Zach bond in such manner that they
nay be detached and removed with
,ut mutilating either the bond or
he coupons themselves and be num-
,ered consecutively from to 40 in
elusive. Any or all of said bonds
nay, at the pleasure of the state,
,e paid off and redeemed after 10
years from the date of issuance.
Sec. 8. The state treasurer shall
,ause to be printed or autographed
suitable bonds in proper form with
interest coupons attached thereto
or the purpose Of carrying out the
provisions of this act.
Sec. 4. All bonds issued under
md by virtue of the provisions of
his act shall be signed by the gov
,rnor Of the state Of Idaho with his
,wn proper name and in his official
They shall likewise be
igned by the secretary of state in
lis official capacity and be anthem
icated by having attached to each
he great seal Of the state of idaho.
Sec. s. After being signed by
he governor and the secretary of
tate and being authenticated as
provided the said bonds
hall be delivered to the state audi
or who shall make and keep in his
,ffice a register fully and properly
each bond and the inter-
,st coupons attached thereto in the
manner and form in which bonds
heretofore issued by the state of
IDAHO are described in the registers
hereof kept in the office Of the
tate auditor. Having so registered
he same, the state auditor shall de-
liver the bonds to the state treasur-
IT with the full par value thereof.
Sec. 6. The state treasurer shall
make and keep in his office regis
er of all bonds issued under the
provisions Of this act, which regis
er shall show all those things re-
luired to be shown by the register
hereof kept in the office of the
tate auditor and such other infor-
nation with respect thereto as the
reasurer shall deem it proper and
necessary to record. @
Sec. Z. When ready to make de-
livery Of same the state treasurer
hall sign each of said bonds with
lis own proper name and in his Of
icial capacity as such state treas
lrer and each Of the interest cou-