Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-10-21
AN ACT

AN ACT
PROVIDING FOR THE ISSUANCE
AND SALE OF STATE BONDS IN
THE SUM OF 100000; AP.
PROPRIATING THE PROCEEDS
OF THE SALE THEREOF FOF
THE PAYMENT OF A PORTION
OF THE COST OF LAYING OUT
SURVEYING THE CONSTRUCT.
ING A SYSTEM OF STATE HIGH
WAYS IN THE STATE OF IDA
HO; PROVIDING BY A TAX
LEVY A REDEMPTION OR
SINKING FUND FOR THE PAY
MENT OF THE SAID BONDS AT
MATURITY AND THE INTER-
EST THEREON AS THE SAME
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 TO
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. 1. For the purpose of pro,
viding moneys to be 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 $2,O0O,0Oo
is hereby authorized to be negotiated
State of Idaho.
SEC. z. 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 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 LIST |
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 /
mutilating either the bond or the |
coupons themselves and be number,
ed consecutively from l 10 30 inclu- |
siye. ANY or all of said bonds may, |
at the pleasure of the state, be paia |
off and redeemed after 10 years |
from the date of issuance.
SEC. 8. 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 |
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. 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 a 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
hereof kept in the office of the
state auditor. Having so registered
he same, the state auditor shall de-
liver the bonds to the state treasur>
II and shall charge the treasurer ;
With the full par value thereof. Ii
SEC. 6. The state treasurer shah |
make and keep in his office a regis ! ,
er of all bonds issued under the
provisions of this act, which register r
hall show all those things required
o be shown by the register thereon |
,ept in the office of the state auditor r
nd such other information with ;
aspect thereto as the treasurer shall 5
eem IL proper and necessary to 1
ecord. ii
SEC. Z. When ready to make de, I
very of same the state treasurer e
hall sign each of said bonds with e
is own proper name and in his Of [
Icial capacity as such state treasur u
r and each of the interest coupons L
ttached thereto shall have the S
autographed or printed facsimile L
ignature of the state treasurer,
hitch signatures shall bind the e
tate of Idaho. The state treasurer L
hall make delivery of the bonds to 4
ne purchaser thereof on behalf oil Il
ne state of Idaho and shall at the a
anne time make collection from sale
urchaser of the full amount of the q
rice for which the same are sold. 3
SEC s All moneys received from | n