The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-08-16
CHAPTER 1913.
Oh. b. No. 274).
AN ACT

/
PROPRlATING THE PROCEEDS
OF THE SALE THEREOF FOF
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 TAI
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 FOB
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 1t Enacted by the Legislature OF
the State of Idaho:
Section l. For the purpose OF
providing moneys to be used in pay
ing for portion of the cost of lay
ing out, surveying and constructing
system of state highways in the
state of Idaho loan of 100000
is hereby authorized to be negotiat-
ed 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 heT deems
advisable, aggregating the amount
of the loan authorized in section 1,
which shall be known as Idaho state
highway bonds, fourth issue, and
shall become due 20 years from the
date of their issuance. Such bonds
shall bear interest at a rate which
shall not exceed the rate of five
per centum per annum, and such
interest shall be paid in equal semi
annual installments upon the 1st
day of January and the 1st day of
July in each year. Such install
ments of interest shall be evidenced
by 40 interest coupons attached to
each bond in such manner that they
may be detached and removed with
out mutilating either the bond or
the coupons themselves and be num-
bered consecutively from l to 40 in
elusive. Any or all of said bonds
may, at the pleasure of the state.
be paid off and redeemed after 10
years from the date of issuance.
Sec. 8. The state treasurer shall
cause to be printed or lithographed
suitable bonds in proper form with
interest coupons attached thereto
for the purpose Of carrying out the
provisions Of this act
Sec. 4. All bonds issued under
and by virtue of the provisions of
this act shall be signed by the gov
ernor 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 capacity and be anthem
Heated by having attached 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
nereinbefore provided the said bonds
shall be delivered to the state audi
or who shall make and keep in his
office register fully and properly
describing each bond and the inter-
EST 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
state auditor. Having so registered |
he same, the state auditor shall de- |
liver the bonds to the state treasur-
# with the full par value thereof.
Sec. 6. The state treasurer shall
make and keep in his office a 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
ecessary to record.
Sec. Z. When ready to make de-
livery Of same the state treasurer
hall sign each of said bonds with
is own proper name and in his Of
icial capacity as such state treas
rer and each of the interest cou-
ons attached thereto shall have the
autographed or printed facsimile
ignature of the state treasurer.
'hich signatures shall bind the state
I Idaho. The state treasurer shall
lake delivery of the bonds to the
urchaser thereof on behalf of the
tate Of Idaho and shall at the same
me make collection from said pur- !
haser of the full amount of the
rice for which the same are sold.
Sec. 8. All moneys received from -,
he sale of the Idaho state highway
onds, fourth issue, shall be paid
ito the Idaho state highway fund.
UGH moneys are hereby appropriate
and made available for the laying
ut, surveying and constructing of /
system Of state highways in the {
ate of Idaho, including all bridges,
llverta and grades and the pur-