Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-10-28

BECOMES DUE; APPROPRIATE
ING THE MONEYS WHICH
SHALL ACCRUE TO SUCH SINK.
ING FUND FOR THE PURPOSES
FOR WHICH PROVIDED; DL
RECTING THE DEPARTMENT
OF PUBLIC WORKS HOW TC
APPLY THE PROCEEDS OF
THE SALE OF SAID BONDS
HEREBY AUTHORIZED: AND
PROVIDING FOR THE APPROX
AL OR REJECTION 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
Yiding 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 ne deems
advisable, aggTegating 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
nd in
terest shall be paid in equal semi
annual installments upon the lst
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
pond in such manner that they may
De detached and removed without
mUtilating either the bond or the
coupons themselves and be number.
ed consecutively from l 10 20 incIu-
siYe. ANY or all of said sbonds may
at the pleasure OF the state, be paiu
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
lOr the purpose OF carrying out the
provisions of this act.
SEC. I. 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 aUthen-
ticated by having attached to each
the great seal OF the State Of Idaho.
SEC. 3. After being signed b!
the governor and the secretary OF
state and being authenticated as
hereinbefore provided the said bonds
shall be delivered te the state audi
tor who shall make and keep IL his
office register fully ana properly
describing each bond and the inter-
est coupons attached thereto in the
manner and form in which bonds
heretofore issued by the State or
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 treasures
Will lAC 4Ol4 pal NG4OS lAGlGOl-
SEC. 6. The state treasurer shah
make and keep in his office a regis
ter of all bonds issued under tbs
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 auditor I
and such other information with
respect thereto as the treasurer shall T.
deem il proper ana necessary TO /
record.
SEC. Z. When ready 10 make de- (
livery of same the state treasurer .
shall sign each of said bonds with
his own proper name and in his Of
fetal capacity as such state treasur.
er and each of the interest coupons
thereto shall have the
or printed facsimile
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 oil
the state of Idaho and shall at the,
same time make collection from Saie
purchaser of the full amount of the
price for which the same are sold.
SEC. S. All moneys received from
the sale of the Idaho State Highway |
bonds. fourth issue, shall De paid in
10 the Idaho State Highway fund
Such moneys are hereby appropriat.
ID and made available for the lay
ng out. surveying and CONSTRUCTING
If a system of state highways in the
state of Idaho, including all bridges,
,ulverts and grades and the purchase
II rirhts of way forming d narr their