Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-24
CHAPTER 1913
III. B. No. 274)
An Ant
AN ACT

AND SALE OF STATE BONDS IN
THE SUM OF $2,000,000; APP
PROPRIATING THE PROCEEDS
OF THE SALE THEREOF FOR
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 SINK
ING FUND FOR THE PAYMENT
OF THE SAID BONDS AT MA
TURITY AND THE INTEREST
THEREON AS THE SAME BE-
COMES DUE; APPROPRIATING
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKING
FUND FOR THE PURPOSES FOR
WHICH PROVIDED; DIRECTING
THE DEPARTMENT OF PUBLIC
WORKS HOW TO APPLY THE
PROCEEDS OF THE SALE OF
SAID BONDS HEREBY AUTHOR
lied: AND PROVIDING FOR
THE APPROVAL OR REJECTION
HEREOF BY THE PEOPLE OF
THE STATE.
Be it enacted by the Legislature
If the State of Idaho.
Sec. 1. For the purpose of pro-
iding moneys to be used in paying
or portion Of the cost of laying
ut. surveying and constructing a
tate of Idaho a loan Of 100000
g hereby authorized to be negotiated
pom the faith and credit Of the
state OF Idaho.
SEC. 2. The State Treasurer Is
-ei eby authorized, empowered and
ERECTED to issue bonds Of the. state
\ such denominations as he deems
dvisable, aggregating the amount
f the loan authorized in section /,
-hich shall be known as Idaho state
ighway bonds, fourth issue, and
hall become due 20 years from the
ate of their issuance. Such bonds
hall bear interest at rate which
hall not exceed the rate OF five
'er centum per annEm, and such in
crest shall be paid in equal
emi-annual installments upon the
It day Of January and the
st day of July in each year. Such
Istallments of interest shall be
tvidenced by 40 interest coupons at
ached to each bond in such man
'er that they may be detached and
emoved without mutilating either
he bond or the coupons themselves
nd be numbered consecutively from
to 40 inclusive. Any or all of
aid bonds may, at the pleasure of
he state. be paid off and red -emed
.fter 10 years from the date of Is
nance.
SECS. The state treasurer shall
ause to be printed or Autographed
uitable bonds in proper form with
interest coupons attached thereto for
he purpose of carrying out the pro-
isions of this act.
SEC. A. All bonds issued under
nd by virtue of the provisions Of
his act shall be signed by the gov
NOR OF the state of Idaho with |
IS own proper name and In his |
fficial capacity. They shall like |
Use be signed by the secretary of
ate in his official capacity and be
authenticated by having attached to
..ch the great seal of the state of |
daho.
SEC. 8. After being signed by |
he governor and the secretary of |
tate and being authenticated as
provided the said bonds |
hall be delivered to the state audit
+ who shall make and keep In his
fffce register fully and properly
each bond and the inter-
t coupons attached thereto in the
lanner and form in which bonds
aretofore issued by the state Of
aaho are described in the registers
hereof kept in the office Of the
late auditor. Having SO registered
he same. the state auditor shall
oliver the bonds to the state
'easurer and shall charge the treas
-er with the full par value thereof. |
SEC. s. The state treasurer shall |
AXE and keep In his office a regis
n of all bonds issued under the
rovisions of this act, which register
hall show all those things required
Q be shown by the register thereof
opt in the office of the state audit
Y and such other information with |
espect thereto as the treasurer shall |!
Gem 1t proper and necessary to re-
ord
SEC. Z. When ready to make de-
very of same the state treasurer |
hall sign each of said bonds with |
Is own proper name and IN his of
fcial capacity as such state treasur-
= and each of the interest coupons
ttached thereto shall have the
autographed or printed facsimile
mature of the state treasurer
hich signatures shall bind the state
t Idaho. The state treasurer shall
lake delivery of the bonds to the
s,rchaser thereof on behalf Of the
tate of Idaho and shall at the Same
me make collection from said pur
haser of the full amount of the
rice for which the same are sold.
SEC. s. All moneys received
ON the sale of the Idaho state
ighway bonds, fourth issue, shall
2 paid into the Idaho state
ighway fund. Such moneys are
ereby appropriated and made avail
Bile for the laying out, surveying
I'd constructing of a system OF
ate highways in the state of Idaho.
acluding all bridges. culverts and
rades end the purchase of rights of
.ay forming part thereof or being
ecessary to be had, used or occu-
led in connection Herewith and for
lch purposes only No moneys