Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-10-22
CHAPTER 1913
n. 3. No. Pa
AN ACT

I FIaOF FOh flE i0OOFf'FN
N. AND SALE OF STATE BONDS II
THE SUM OF 100000; APPROP
RAFTING THE PROCEEDS OF TIL
SAME THEREOF FOR THE PAY
mENT OF A PORTION OF TIKI
COST OF LAYING OUT, SURVEY
ING AND CONSTRUCTING A sYS
TEN OF STATE HIGHWAYS N
THE STATE OF IDAHO; PROVID
ING BY A TAX LEVY A REDEMP
TON OR SINKING FUND Fol
THE PAYMENT OF THE SAIL
AT MATURITY AND THE INTER
EST THEREON AS THE SAME
BECOMES DUE; APPROPRIATINc
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKING
FUND FOR THE PURPOSE FOF
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 1t enacted by the Legislature of the
State Of Idaho:
SEC. 1. For the purpose of pro-
moneys 10 De uSe0 In paying
for portion of the cost in laying out,
surveying and constructing a system
of state highways Ia the state of Idaho
a loan Of 100000 Is hereby author
lied to be negotiated upon the faith
and credit of the state of Idaho.
SEC. Q. The State Treasurer rs
hereby authorized. empowered and d.
rected to issue bonds Of the state In
such denominations as he deems advfs-
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 20 years from the date of |
their issuance. Such bonds shall bear
interest at the rate which shall not
exceed the rate of per centum per
annun1, and such interest shall be paid
in equal semi-annua1 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 >
elusive. Any or all of said bonds may. =
1T the pleasure of the state, be paid off -
md redeemed after ten years from the .
date Of issuance >,
SEC. 8. The state treasurer shall :,
'ause to be printed or Autographed
suitable bonds in proper form with h
interest coupons attached thereto for =,
he purpose of carrying out the pro- 4
'isions of this act. A.
SEC. 4. All bonds issued under j.
~. 10. /
ct shall be signed by the Governor of -,
he state of Idaho with his own proper
anne and in his official capacity. They -,
hall likewise be signed by the sec ",
etary of state in his official capacity 60
nd be authenticated by having attach ;s
d to each the great seal of the state
f Idaho.
SEC. s. After being signed by the ~ ~
overnor and the secretary of state "
nd being authenticated as hereinbefore -
rovided the said bonds shall be -
elivered to the state auditor who shall
lake and keep in his office a register oo
ully and properly describing each ~
ond and the interest coupons attach tio
! thereto in the manner and form in ~
htch bonds heretofore issued by the e.,
ate of Idho are described in the reg ral
ters thereof kept in the office Of the 81,
ate auditor. Having so reeis-ec.d 80
e same, the state auditor shall de- ~,
or the bonds to the state tr asi1rer ~
I'd shall charge the treasurer with n,i
e full par aiue thereof. 80
SEC. 6. The state treasurer shall am
AXE and keep in his office n register wo
all bonds issued under the pro visions rer
this act, which register shall show cor
those things required TO he shown dee
the register thereof Kept in the the
Ice Of the state auditor and such
her information with respect thereto effe
the treasurer shall deem it proper tior
d necessary to record. peo
SEC. 7. When ready to make de- iori
cry of same the state treasurer shall aga
n each of said bonds with his own
'per name and in his official capa- the
as such state treasurer and each gen
the interest coupons attached there whe
shall have the autographed or print this
facsimile signature of the state
asurer which signatures shall bind autl
state of Idaho The state trea and
II make delivery of the bonds to 81
purchaser thereof on behalf of the is d
te of Idaho and shall at the time new
Se collection from said purchaser publ
the full amount of the price for for
oh the same are sold. next
SEC. s. All nonevs rooai,,a5 s,.,,, of S
Sale of the Idaho State Highway cour
as Fourth Issue, shall be paid into on
a,,s 'e or 80 Sea at,suway Fund. Such elect
e available for the lavins ont s,,r retur
ng and constructing of a system ed,
az, - nisnways IN the state Of Idaho, mann
les and purcbase 80 ou,reIts and tutor
ling part thereof or being nee,
ny to be had, used or occupied in a2O-C
ection Herewith and for such mr.
$ only. No moneys shall AZ anv
be withdrawn permanently from NOT
fund except upon Marra nj of thn