The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1920-10-07

AN AT.

OF state bonds In the sum OF "
100000; appropriating the proceed
Of the sale thereof for the paymer
Of Z portion Of the cost Of layin
out, surveying and constructing
system Of state highways |
the state Of Idaho; providing b
. tax levy q redemption or sink
ing fund for the payment Of tn
bonds 1t maturity and the inter
est thereon as the same become
due; appropriating the money
which shall accrue to such sink
ing fund for the purposes 70
which provided; directing the de
partment Of public works no,
to apply the proceeds Of the sale o
said bonds hereby authorized; an,
providing for the approval or re
lection hereof by the people Of tn
state.
Be 1t enacted by the Legislature o.
the State Of Idaho:
Section /. For the purpose Of pro
viding moneys to be used in payinf
for 4 portion Of the cost Of laying out
surveying and constructing = system
OF state highways in the state Of Ida.
no loan Of $1,000 900 is hereby au-
thorized TO be negotiated upon tbs
faith and credit Of the state Of Idaho
Section 2. The State Treasurer il
hereby authorized, empowered and d.
rected to issue bonds Of the state in
such denominations as he deems ad-
visable, aggregating the amount of
the loan authorized in section l, which
shall be known ~ Idaho state highway
bonds, fourth issue, and shall become
due 20 years from the date of their
issuance. Suck bonds shall bear in
terest ct . rate which shall not ex-
coed the rate Of Ave pcrcentum per
annum, and such interest shall be paid
in equal semi-annual installments up
on the LIST day Of January and the 1st
day Of July in each year. Such in
stallments Of interest shall be evil
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 ] to 40 in
elusive. Any and all Of said bonds
may, at the pleasure Of the state, be
paid OH and redeemed after 10 years
from the date Of issuance.
Section 8. The state treasurer
shall cause to bG printed or litho-
yraphed suitable bonds in prop
sr form with interest coupons at
,ached thereto for the purpose Of car
wing out the provisions Of this act.
Section 4. All bonds issued under
md by the virtue Of the provisions of
hto ot ohaU ha utfxx,11 k,y khA
Tor Of the state of Idaho with his own
proper name and in his official capac-
ty. They shall likewise be signed
~ the secretary Of state in his official
and be authenticated by hav-
ng attached to each the great seal of |
he state of Idaho.
Section g. After being signed by
he governor and the secretary of |
tate and being authenticated as here
nbeforo provided the said bonds shall |
'e delivered to the state auditor who |
hall make and keep in his office a |
egister fully and properly describing |
ach bond and the interest coupons at |
ached thereto in the manner and form
n which bonds heretofore issued by
he state Of Idaho are described in
he registers thereof kept in Il e office
( the state auditor. Having so reg
stored the same, the state auditor
hall deliver the bonds to the state
treasurer and shall charge the treas
rer with the full par value thereof.
Section 6. The state treasurer
hall make and keep in his office u
sgister of all bonds issued under the
rovisions Of this act, which register
hall show all those things required
be shown by the register thereof
opt in the office of the state auditor
nd such other information with re-
,ect thereto as the treasurer shall
'em it proper and necessary TO re-
I'D.
Section Z. When ready to make de-
,ery Of same the state treasurer
all sign each of said bonds with his
pn proper name and in bis official
pacity as such state treasurer and
CHI Of the interest coupons attached
ereto shall have the autographed or
inted facsimile signature of the
ate treasurer, which signatures shall I
nd the state of Idaho. The state 9
sasurer shall make delivery Of the
nds to the purchaser thereof on be- G
II Of the state Of Idaho and shall at e
e same time make collection from
id purchaser Of the full amount of t
g price for which the same are sold.
Section 8. All moneys received a
I'm the sale of the Idaho state high a
" bonds, fourth issue, shall be paid
o the Idaho state highway fund. il
oh moneys are hereby appropriated n
a made available for the laying out, p
-veying and constructing Of a sys- s
n Of state highways in the state Of Il
tho, including all bridges, culverts t,
l grades and the purchase of rights Il
way forming part thereof or be- p
necessary to be had, used or occu- a
d in connection Herewith and for 7
h purposes only. No moneys shall C
any time be withdrawn permanent Il
from said fund except upon the ST
rrant of the state auditor.
lection 9. For the purpose Of Gre
ng fund, which said fund is here
designated IS the state highway
emption fund, fourth bond issue, pr
-