Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-10-15


lied: AND PROVIDING FOR
THE APPROVAL OR REJECTION
HEREOF BY THE PEOPLE OF.
THE STATE.
BE n Enacted by enc Legislature
Of tina State Of Idaho.
SEC. i. For the purpose OF pro-
viding moneys to DO used in paying
for portion OF the cost OF laying
out, surveying and constructing .
system Of state highways in the state
OF Idaho loan OF $4,000, 000 is here
BY authorized to be negotiated upon
the faith and credit OF the state OF
Idaho.
SEC. 2. The State Treasurer Is
hereby authorised, empowered aud
directed to issue bonds OF the state
in such denominations as he deems
advisable, aggregating the amount
OF the loan authorized In section 4,
which shall be known as Idaho State
Highway Bonds, fourth issue, and
shall become due 90 years from 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 interest shall
be paid in equal semi-annual INSTALL
ments upon the LIST day OF January
and the LIST day Of July In each year.
Such installments OF interest shall
be evidenced by 40 interest coupons
attached 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
30 40 inclusive. 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. 8. The state treasurer
shall cause to DO printed or litho-
graphed suitable bonds In proper
form with interest coupons attach
ed there to for the purpose OF car
rying out the provisions OF this act.
SEC. 4. All bonds issued under
and by virtue OF the provisions OF
this act shall DO signed by the gov
ernor OF the state OF Idaho with hIs
own proper name and In his official
capacity. They shall likewise be sign
ed by tho secretary OF state In his
official capacity and be authentica-
ted 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
TO who shall make and keep In his OF
flee q register fully and properly de-
cribing each bond and the interest
coupons attached thereto In the man
ner and form in which honda hereto
fore issued BY the state Of Idaho are
described In the registers thereof
kept In the office OF the state audit
or. Having 80 registered the same,
the state auditor shall deliver the
bonds TO the state treasurer and
shall charge the treasurer with the
full par value thereof.
SEC. G. The state treasurer
shall make and keep in his office q
register OF oil bonds issued under
the provisions OF this act, which re-
gister shall show all those things re-
quired to DO shown by the register
thereof kept In the office OF the state
auditor and such other information
with respect thereto as the treasurer
shall deem IL proper and necessary to
record.
SEC. z. When ready to make
delivery Of same the state treasurer
shall sign each OF said bonds with his
own proper name and his official
capacity as such state treasurer and
each OF the interest coupons attach
ed thereto shall have the Autograph
ed Or printed facsimile signature Of
the state treasure, which signatures
shall bind the state of Idaho. The
state treasurer shall make delivery
Of the bonds to the purchaser there
OF on behalf OF the state OF Idaho
and shall &C the same time make
collection from said purchaser 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 high
way bonds, fourth Issue, shall be
paid into the Idaho state highway
fund. Such moneys are hereby an-
propTiated and made available COR
the laying out, surveying and con-
structing Of . system OF state high
ways In the state OF Idaho, includ-
ing all bridges, culverta and grades
and the purchase Of rights Of Way
forming part thereof or being no
cessary TO be had, used or occupied
in connection Herewith and for such
purposes only. No moneys shall at
any time be withdrawn permanently
from said fund except upon war
rant OF the state auditor.
SEC. D. For the purpose Of
creating . fund, which said fund Is
/ hereby designated O. the state high
way redemption fund, fourth bond
Issue, out Of which shall be paid the
principal and interest upon the bonds
to be issued under and By virtue OF
the provisions OF this act there il
hereby levied Q tax OF four-tenths
of one mill (3.00O4l upon each dol
lar In value Of the taxable property
within tbs state, tho same 10 be
known as the state highway tax, and
the proceeds OF the same are here
b. appropriated and set aside until
such time al tho sald Idaho state
highway bonds, fourth Issue, and ali
interest which shall have accrued
thereon ara fully maid ana RECLAIMED