Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-10-08
CHAPTER 1913
a. 3. No. 274)
AN ACT

THE SUM OF $2,000000; APPROX
RAFTING THE PROCEEDS OF tn
SAME THEREOF FOR THE PAY
MENT OF A PORTION OF tn
COST OF LAYING OUT, SURVEY
ING AND CONSTRUCTING A SYs
TEN OF STATE HIGHWAYS 4
THE STATE OF IDAHO, PROVED
ING BY A TAX LEVY A REDEMP
TON OR SINKING FUND Fol
THE PAYMENT OF THE SAL
AT MATURITY AND THE INTER
EST THEREON AS THE SAM
BECOMES DUE APPROPRIATINt
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKING
FUND FOR THE PURPOSE FOE
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. I. For the purpose Of pro-
vding moneys to be used in paying
for portion Of the cost in laying out,
surveying and constructing a system
of state highways in the state of Idaho
/ la loan OF 100000 is hereby author
lied to be negotiated upon the faith
and credit of the state of Idaho.
SEC. 2. The State Treasurer is
hereby authorized. empowered and d.
rected to issue bonds of the state in
such denominations as he deems advis-
able, aggregating the amount of the
loan authorized in Section 1, which
shall be known as Idaho State high
way bonds. fourth issue, and shall be- |
come due 90 years from the date of |
their issuance. Such bonds shall bear
interest at the rate which shall not
exceed the rate of 5 per centum per
annum, and such interest shall be paid
in equal semi-annual installments upon
the LIST day of January and the first
day of July in each year. Such INSTALL
ments 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 D.,
elusive. Any or oil of said bonds may. :
1t the pleasure Of the state, be paid off ,,
md redeemed after ten years from the 9
late Of issuance. =
SEC. 3. The state treasurer shall !,
ause to be printed or Autographed
uitable bonds in proper form with y
interest coupons attached thereto for a
he purpose of carrying out the pro- \
isions of this act. =
SEC. 4. All bonds issued under :,
nd by virtue of the provisions of this -
ct shall be signed by the Governor of y,
he state of Idaho with his own proper
anne and in his official capacity. They =,
hall likewise be signed by the Sec A.
etary of state in his official capacity :,
nd be authenticated by having attach is
to each the great seal of the state
f Idaho. :.
SEC. s. After being signed by the N,
overnor and the secretary of state 80
I'd being authenticated as hereinbefore ,a
rovided the said bonds shall be es
elivered to the state auditor who shall
AXE and keep in his office a register on
lily and properly describing each on
md and the interest coupons attach tio
thereto in the manner and form In go
hich bonds heretofore issued by the e.,
ate of Idho are described in the reg ra e
ers thereof kept in the office Of the Oh,
ate auditor. Having so rsgi.;-ered ~
e same, the state auditor shall de- on,
er the bonds to the state Treasurer tbo
d shall charge the trclsurcr with nIi,
: full par yalue thereof NO
SEC. 6. The state treasurer shall apr
Ike and keep in his office n register wo
all bonds issued under the pro visions rem
this act, which register shall show con
those things required to he shown dee
the register thereof kept in the the
ce of the state auditor and such
er information with respect thereto effe
the treasurer shall deem 1t proper tion
necessary to record peo
SEC. z. When ready to make de- jori
ny of same the state treasurer shall aga
! each of said bonds with his own
per name and in his official capa- the
as such state treasurer and each gene
he interest coupons attached there whe
hall have the autographed or print this
facsimile signature of the state
surer, which signatures shall bind auth
state of Idaho The state treasurer and
j make delivery of the bonds to ST
purchaser thereof on behalf of the is d
OF Idaho and shall at the time new:
e collection from said purchaser publ
he full amount of the price for for
IN the same are sold. next
SEC. s. All moneys received from or 81
Sale OF the Idaho State Highway coun
Is Fourth Issue, shall be paid into on
Idaho State Highway Fund. Such eject
eys are hereby annronriataa ~, retur
available for the laying out, sur ed,
1g and constructing of a system mann
ate highways in the state of Idaho tutor
ding all bridges, culverts and
es and purchase of rights of way azo-e
ing part thereof or being nee
y TO be had used or occupied in
ection herewith and for such pur-
only. No moneys shall at any
be Withdrawn permanently from 10
fund except upon warrant of the car
auditor. with
me- charg
VIII ,h -