The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1920-08-26
CHAPTER 1873, Oh. B. No. 274)
AN ACT.

Of the sale thereof for the payment
of portion of the cost Of laying
out, surveying and constructing q
system Of state highways in
the state Of Idaho; providing by
! a tax levy a redemption or sink
] ing fund for the payment Of the
bonds at maturity and the inter
est thereon as the same becomes
due; appropriating the moneys
which shall accrue to such sink
ing fund for the purposes for
which provided; directing the de-
partment Of public works how
to apply the proceeds of the sale OF
| said bonds hereby authorized; and
providing for the approval or re-
lection hereof by the people Of the
state.
Be it enacted by the Legislature Of
the State of Idaho:
Section 1. For the purpose of pro-
yidiDg moneys to be used in paying
for portion of the cost of laying out,
surveying and constructing q system
Of state highways in the state of Ida
no loan Of 100000 is hereby au-
thorized to be negotiated upon the
faith and credit Of the state of Idaho.
Section 2. The State Treasurer is
hereby authorized, empowered and di-
rected to issue bonds of the state in
such denominations as he deems ad-
visable, aggregating the amount of
the loan authorized in section 1, 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 in
terest at a rate which shall not ex-
coed the rate of five percentum per
annum, and such interest shall be paid
in equal semi-annual installments up
on the 1st day of January and TIE LIST
day of July in each year. Such in
stallments Of interest shall be evil
depced 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 and all of said bonds
may, at the pleasure of the state, be
paid off and redeemed after 10 years
from the date of issuance.
Section 8. The state treasurer
shall cause to be printed or litho-
graphed suitable bonds in prop
er form with interest coupons at
tached thereto for the purpose Of car
rying out the provisions of this act
Section A. All bonds issued under
ard by the virtue of the provisions of
this act shall be signed by the COVER
nor of the state of Idaho with his own
proper name and in his official capac-
ity. They shall likewise be signed
by the secretary of state in his official
capacity and be authenticated by hav-
ing attached to each the great seal of
the state of Idaho.
Section 5. After being signed by
the governor and the secretary of
state and being authenticated as here
inbefore provided the said bonds shall
be delivered to the state auditor who
shall make and keep in his office a
fully and properly describing
each bond and the interest coupons at
tached thereto in the manner and form
in which bonds heretofore issued by
the state of Idaho are described in
the registers thereof kept in tie office
of the state auditor. Having so reg
istered 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. |
Section 6. The state treasurer
shall make and keep in his office a
register 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 auditor |
and such other information with re-
spect thereto as the treasurer shall !
deem it proper and necessary 20 re-
cord.
Section 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 bis official |
rs such state treasurer and
zach of the interest coupons attached /
thereto shall have the autographed or
printed facsimile signature OF the
,tate treasurer, which signatures shall /
bind the state of Idaho. The state |
treasurer shall make delivery Of the /
ponds to the purchaser thereof on be-
lAh of the state Of Idaho and shall ut
he same time make collection from
aid purchaser of the full amount of |
he price for which the same are sold.
Section g. All moneys received
rom the sale Of the Idaho state high
Fay bonds, fourth issue, shall be paid
INTO the Idaho state highway fund.
such moneys are hereby appropriated
md made available for the laying out,
and constructing Of . sys-
EN- Of state highways in the state of
IDAHO, including all bridges, 'culverts
md grades and the purchase of rights
4 way forming q part thereof or be-
ng necessary to be had, used or occu-
,ied in connection herewith and for
uch purposes only. No moneys shall
It any time be withdrawn permanent
, from said fund except upon the
variant of the state auditor.
Section g. For the purpose Of Gre
ting Z fund, which said fund is here
y designated rs the state highway
exemption fund, fourth bond issue,
ut Of which shall be paid the princi-
al and interest upon the bonds to be
issued under and by virtue Of the pro-
isions Of this act there is hereby lev
ID = tax Of four-tenths Of one mill
10000 upon each dollar. in value of |
he tnrni,le nrnnertv within the state ,