Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-09-17
CHAPTER l93
a.. q. No. 274)
AN ACT

AN ACT
PROVIDING FOR THE ISSUANCE
AND SALE OF STATE BONDS IN
THE SUM OF 100000; APPRoP
RATING THE PROCEEDS OF THE
SAME THEREOF FOR THE PAY
MENT OF A PORTION OF THE
COST OF LAYING OUT, SURVEY
ING AND CONSTRUCTING A SYS
TEN or STATE HIGHWAYS IN
ING BY A TAX LEVY A REDEMP.
TON OR SINKING FUND FoE
THE PAYMENT OF THE SAIC
AT MATURITY AND THE INTER.
EST THEREON AS THE SAME
BECOMES DUE; APPROPRIATING
THE MONEYS WHICH SHALL
ACCRUE TO SUCH SINKING
FUND FOR THE PURPOSE FOR
WHICH PROVIDED; DIRECTING
THE DEPARTMENT OF PUBLIC
WORKS HOW TO APPLY THE
PROCEEDS OF THE SALE OF
SAID BONDS HEREBY AUTHOR
FED; AND PROVIDING FOR THE
APPROVAL OR REJECTION
HEREOF BY THE PEOPLE OF
THE STATE.
BE il enacted by the Legislature OF the
State of Idaho
SEC. l. For the purpose Of pro-
viding moneys 10 be used in paying
for portion Of the cost in laying ont.
surveying and constructing a system
Of state highways in the state Of Idaho
n loan Of $4,000. 900 is hereby author
lied to he negotiated upon the faith
and credit Of the state of Idaho.
SEC. ?. The State Treasurer is
hereby authorized. empowered and di- |
rected to issue bonds Of the state in |
such denominations as he deems advis-
able, aggregating the amount Of the
loan authorized in Section / which
shall he known as Idaho State high
way bonds. fourth issue, and shall be-
come due 20 Years from the date of
their issuance. Such bonds shall bear
interest at the rate which shall not
exceed the rate of per centum per
annum, and such interest shall be paid
in equal semi installments upon
the LIST day of January and the first I
day Of July in each year. Such install {
ments Of interest shall be evil !
dcnced by 40 interest coupons attach S
cd to each bond in such manner that z
they may be detached and removed q
without mutilating either the bond or
the coupons themselves and be num- o
bered consecutivelv from / to 40 in n
elusive. Any or all of said bonds may. Z
at the pleasure Of the state, be paid off o
and redeemed after ten years from the p
date Of issuance. s
SEC. 3. The state treasurer shall Il
cause to be printed or autographed il
suitable bonds in proper form with
interest coupons attached thereto for b
the purpose of carrying out the pro- Il
visions OF this act d
SEC. 4. All bonds issued under d
md by virtue of the provisions of this ir
let shall be signed by the Governor of b,
he state of Idaho with his own proper Of
lame and in his official capacity. They
hall likewise he signed by the sec W
'etary of state in his official capacity III
md be authenticated by having attach $;
ID to each the great seal of the state is
# Idaho.
SEC. s. After being signed by the OF
governor and the secretary of state W
nd being authenticated as hereinbefore OF
provided the said bonds shall be ~
delivered to the state auditor who shall rs
make and keep in his office a register
ully and properly describing each co
ond and the interest coupons attach or
Il thereto in the manner and form in tic
'hich bonds heretofore issued by the go
iters thereof kept in the office of the ret
ate auditor. Having so ras-i.i cred sh
IL same. the state auditor shall de- of
CT the bonds to the state Treasurer an
nd shall charge the troi9urrr with tn;
e full par alue thereof phi
SEC. G. The state treasurer shall ma
axe and keen in his offi,.a = rcgisrar APP
all bonds issued under the pro v sions wo
this act, which register shall show rer
1 those things required to he shown COZ
= the register thereof kept in the de-
flee Of the state auditor and such the
her information with respect thereto
the treasurer shall deem ii proper en-
I'd necessary to record no.
SEC. 7. When ready to make de- pee
cry Of same the state treasurer shall l0i
IN each Of said bonds with his own 'S'
oper name and in his official capa- ~
" as such state treasurer and each e.e
the interest coupons attached there
shall have the Autographed or print
facsimile signature of the state '"''
'asurer. which SIGNATURES shall bind
q state Of Idaho The state treasure -,
a1 make delivery of the bonds to ~
o purchaser thereof on behalf of the -
tic of Idaho and shall mt the time -
Ike collection from said purchaser i,.%
tho full amount Of the price for s'u"
Itch the same arc sold '''
SEC. 8. All moneys received from Of ,
3 Sale Of the Idaho State Highway ror,
nds. Fourth Issue. shall he paid into an
Idaho state Highway Fund. such orec
noys are hereby appropriated and rot,,
dc available for the laying ont. sur 90
ing and constructing of "a system ,,ov
state highways in the state of Idaho. 4,ti,