Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-08-20
LEGAL NOTICES
CHAPTER 1913
III. B. No. 274
AN ACT

TUX SUM OF $2,000,000, AP
pRoPRIATING THE PROCEEDS
OF THE SALE THEREOF FOR
THE PAYMENT OF A PORTION
OF THE COST OF LAYING OUT.
SURVEYING THE CONSTRUCT
ING A SYSTEM OF STATE HIGH
WAYS IN THE STATE OF IDA
no. PROVIDING BY A TAN
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; DIRECTING
THE DEPARTMENT OF PUBLIC
WORKS HOW TO APPLY THE
PROCEEDS OF THE SALE OF
SAID BONDS HEREBY AUTHOR
IZED; 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 pro-
yiding moneys to be used in paying
for a portion of the cost of laying
out, surveying and constructing a
system of state highways in the
state of Idaho loan of 100000
is hereby authorized to 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 he 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 the
date of their issuance. Such bonds
shall bear interest at rate which
shall not exceed the rate of five
per centum per annCm, and such In
terest shall be paid in equal semi
annual aollments upon the
list day Of January and the
list day of July in each year. Sucf
installments of interest shall BIZ
evidenced by 40 interest coupons at
tached to each bond in such man
ner that they may be detached ant
removed without mutilating eithel
the bond or the coupons themselves
and be numbered consecutively from
1 to 40 inclusive. Any or all O
said bonds may at the pleasure o
the state, be paid off and red eme'
after 10 years from the date of is
suance.
SEC.3. The state treasurer shal
cause to be printed or lithographe
suitable bonds in proper form wit
interest coupons attached thereto fo
the purpose of carrying out the pre-
visions of this act.
SEC T. All bonds issued unde
and by virtue of the provisions {
this act shall be signed by the GOV
ernor of the state of Idaho wit
his own proper name and in HI
official capacity They shall like
wise be signed by the secretary {
state in his official capacity and b
authenticated by having attached
each the great seal of the state {
Idaho.
SEC. s. After being signed b
the governor and the secretary {
state and being authenticated &
hereinbefore provided the said bono
shall be delivered to the state audi
or who shall make and keep in h
office a register fully and properl
describing each bond and the int
acf oft n, ~
manner and form in which bono
heretofore issued by the. state
Idaho are described in the registe
thereof in the manner and form
which bonds heretofore issued /
the state of Idaho are described
the registers thereof kept in the o
flee of the state auditor. Havir
SO registered the same, the sta
auditor shall deliver the bonds
he state treasurer and shall char,
the treasurer with the full par Walt
thereof
SEC. s. The state treasurer sha
make and keep in his office regi
ter of all bonds issued under Il
provisions of this act, which regist
shall show all those things require
to be shown by the register there
kept IN the Office OF tne state auui
or and such other information wi
respect thereto as the treasurer sha
deem 1t proper and necessary to
cord.
SEC. T. When ready to make d
livery OF same the state trensur
shall sign each OF said bonds wi
his own proper name and IN his
fetal capacity as such state treasu
er and each Of the interest coupe
attached thereto shall have L
Autographed or printed la"'m
signature of the state treasur
which signatures shall bind tho sta
of Idaho The state treasurer shi
make delivery of the bonds to I
purchaser thereof on behalf Of I
state of Idaho and shall at the SAL
time make collection from said pt
chaser OF the full amount or I
price for which the same are sold
SEC. s. All moneys receiv
from the sale Of the Idaho alta
highway bonds, fourth issue. shi
be paid into the Idaho sta