Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-09-16

! ING FUND FOR THE PURPOSES
! FOR WHICH PROVIDED; DI,
! RECTING THE DEPARTMENT.
OF PUBLIC WORKS HOW TO
APPLY THE PROCEEDS OF
THE SALE OF SAID BONDS
HEREBY AUTHORIZED: AND
| PROVIDING FOR THE APPROX
AL OR REFLECTION HEREOF BY
THE PEOPLE OF THE STATE.
Be it Enacted by the Legislature OF
/ the State of Idaho:
SEC. l. For the purpose of pro,
viding 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 a 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 l,
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
percentum per annum, and such in
terest shall be paid in equal semi
annual installments upon the 1st
day of January and the LIST day Oh
July in each year. Such installments
of interest shall be evidenced by 40
interest coupons attached to each
bond in such manner that they may
be detached and removed without
mutiIating either the bond or the
coupons themselves and be number
ed consecutiyely from 1 TO 40 1nclu-
sive. Amy 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. 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
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
ticated 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
hereinbefore provided the said bonds
shall be delivered to the state audi
tor 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
thereof kept in the office of the
state auditor. Having SO registered
the same, the state auditor shall de-
liver the bonds to the state treasur-
er and shall charge the treasurer
with the full par value thereof.
SEC. 6. The state treasurer shah |
make and keep in his office a regis, J
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 thereon |
kept in the office of the state auditor
and such other information with |
respect thereto as the treasurer shall
deem it proper and necessary to
record.
SEC. 7. 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
f1c1al capacity as such state treasur.
9r and each of the interest coupons
thereto shall have the
or printed facsimile
signature of the state treasurer,
which signatures shall bind the
state of Idaho. The state treasurer
shall make delivery of the bonds to
he purchaser thereof on behalf O,
he state of Idaho and shall at the
'ame time make collection from said
purchaser 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 in.
o the Idaho State Highway fund
'uch moneys are hereby appropriat.
d and made available for the lay. |
ng out, surveying and CONSTRUCTING
# a system of state highways in thu /
tate of Idaho, including all bridges. !
uiVerts and grades and the purchase I
l rights OF way forming part there :
L or being necessary to be had i
sed or occupied in connection there. s
nth and for such purposes only. No I
loneys shall at any time be with i
rawn permanently from said fund n
kept upon the warrant of the state
uditor.
SEC. 8. For the purpose OF
ting a fund, which said fur Gre
ereby designated as the ST. I'D is
ay redemption fund, for tie high
sue, out of which shat Lrth bond
'incipal and inter 4 De paid the
e of the proyir' under and by vir.
hereby levi Ions of this act there