Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-08-27

OF THE SAID BONDS AT MA
TURIIY AND THE INTEREST
THEREON AS THE SAME BE-
COMES DUE; APPROPRIATING
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKIWG
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
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 1. For the purpose of pro-
Viding moneys to be used in paying
for a portion of tho cost of laying
out, surveying and constructing
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 f.
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 installments upon tn
1st day of January and the
LIST day of July in each year. Such
installments of interest shall be
evidenced by 40 interest coupons at
tached to each bond in such man
ner that they may be detached and
removed without mutilating either
the bond or the coupons themselves
and be numbered consecutively from
| to 40 inclusive Any or all of
aaid bonds may, at the pleasure of
the state, be paid off and red emed
after 10 years from the date of is
suance.
SEC.3. 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. A. 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
HE own proper name and IN his
official capacity. They shall like
wise be signed by the secretary of
state in his official capacity and be
authenticated by having attached to
each the great seal of the state of
Idaho.
SEC. 5. After being sigred BY
the governor and the secretary of
state and being authenticated as
hereinbefore provided the said bonds
shall be delivered to the state audit
or who shall make and keep in his
office register fully and properly
describing each bond and the inter
est coupons attached thereto in tho
manner and form 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 registered
the same. the state auditor shalt
deliver the bonds to the state
treasurer and shall charge the trecs-
urer with the full par value thereof.
SEC. s, The state treasurer shall
make and keep in his office regis
ter of all bonds issued under the
provisions of this act, which register
shall show all those things required
to be shown by the register thereof
kept in the office of the state audit
or and such other information with
respect thereto as the treasurer shall
deem it proper and necessary to re-
cord.
SEC. Z. When ready to make de-
livery of same the state treasurer
shall sign each of said bonds with
his own proper name and in his Of
ficial capacity as such state treasur-
er and each of the interest coupons
attached thereto shall have the
Autographed or printed fac-simile
signature of the state treasurer
which signatures shall bind the state
of Idaho. The state treasurer shall
make delivery of the bonds to the
purchaser thereof on behalf of The
state of Idaho and shall at the Same
time make collection from said pur
chaser of the full amount of the
price for which the same are sold.
SEC. s. All moneys received
from the sale of the Idaho state
highway bonds, fourth issue, shall