Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-10

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 the
LIST day Of January and the
1st 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
said bonds may, at the pleasure Of
the state, be paid off and red emed
after 10 years from the date of Is
suance.
SECS. The state treasurer shall
cause to be printed or lithogra phed
suitable bonds in proper form with
interest coupons attached thereto for
the purpose Of carrying out the pro-
visions 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 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. S. 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 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 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
deliver the bonds to the state
treasurer and shall charge the treas
urer with the full par value thereof.
SEC. 6. 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 II 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 a. such state treasur-
er and each of the interest coupons
attached thereto shall have the |
Autographed 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 the
purchaser thereof on behalf Of 1he |
state of Idaho and shall al the same !
time make collection from said pur |
chaser of the full amount OF the |
price for which the same are sold.
SEC. 8. All moneys received
from the sale of the Idaho state
highway bonds. fourth tissue, shall /
be paid into the Idaho state
highway fund. Such moneys are
hereby appropriated and made avail
able for the laying out, surveying
and constructing OF a system of
state highways in the state OF Idaho.
including all bridges, culverts and
grades and the purchase of rights OF
way forming part thereof or being
necessary to be had, used or occu-
pied in connection Herewith and for
such purposes only. No moneys
shall at any time be withdrawn per-
from said fund except up
IN the warrant OF the state auditor.
SEC. 8. For the purpose of ere
ating q fund, which said fund is
hereby designated as the state
highway redemption fund, fourth
bond issue, out of which shall be
paid he principal and interest upon
the bonds to be issued under and
BY. virtue OF the provisions of this
act there is hereby levied
lax OF four-.en.hs of one mill
($.O0O4 upon each dollar in
ialne of the taxable property
within the state, the same to be !
Known as the state highway tax. and
he proceeds of the same are hereby
appropriated and set aside until
'uch time as the said Idaho state ,
highway bonds, fourth issue, and all ,
interest which shall have accrued /
hereon are fully paid and redeemed. ,
Ihe. moneys accruing from the ,
ource above mentioned, which are
hereby diverted. appropriated and I
ct aside for the purpose above set !
orth, shall be by the state auditor :
md state treasurer credited to and :
'laced in the said state highway rel
emption fund. fourth bond issue out \
u which fund the state treasurer q