Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-08-20
CHAPTER 1913
a. B. No. PA
AN ACT

+, An All
( PROVIDING FOR THE IssUANc
, AND. SALE OF STATE BONDS II
2 THE SUM OF 100000; APPROP
, RATING THE PROCEEDS OF TIL
MENT OF A PORTION OF TIL
J COST OF LAYING OUT, SURVEY
ING AND CONSTRUCTING a SYS
TEN OF STATE HIGHWAYS IN
THE STATE OF IDAHO; PROViD
n ING BY A TAX LEVY A REOEMP
TON OR SINKING FUND FOE
THE PAYMENT OF THE SAFE
AT MATURITY AND THE INTER.
EST THEREON AS THE SAME
BECOMES DUE; APPROPRIATiNc
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
lied: AND PROVIDING FOR THE
APPROVAL 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 in laying out,
surveying and constructing a system
of state highways in the state of Idaho
a loan of 100000 is hereby author
lied to be negotiated upon the faith
and credit of the state of Idaho.
SEC. 2. 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 be 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
'nnum. and such interest shall be paid
n equal semi-annual installments upon
he LIST day of January and the first
lay of July in each year. Such INSTALL
nents of interest shall be evil
fenced by 40 interest coupons attach
ID to each bond in such manner that
hey may be detached and removed
without mutilating either the bond or
he coupons themselves and be NUM-
erred consecutively from to 40 in
'usive. ANY or pll of said bonds may,
I the Measure Il the STATE, be paid or
nd redeemed AFTER ten years from the
ate of issuance at
SEC. 8. The state treasurer shall /
ause to be printed or lithogYaphed
litable bonds ink proper form with ;
lterest coupons attached Hereto for t
'e purpose of CARRYING out the pro- q
sions of this act< q
SEC. 4. All bonds issued under +
I'd by virtue of the provisions of this h
It shall be signed by the Governor of o
lie state of Idaho with his own proper
lme and in his official capacity. They v
lall likewise he signed by the sec q
tary Of state in his official capacity s.
Id be authenticated by having attach rs
to each the great seal of the state
Idaho. y
SEC. g. After being signed by the "
vernon and the secretary of state O
d being authenticated as hereinbefore g
divided the said bonds shall be al
Iivered to the state auditor who shall
AXE and keep in his office a register CO
nd and the interest coupons attach q
thereto in the manner and form in %
nich bonds heretofore issued by the I'll
ite of Idho are described in the reg re
ers thereof kept in the office of the ST
tie auditor. Having so rsci.s- efsd OF
? same. the state auditor shall de- ar
~, tho hords 20 +ho &C. - -. tn
d shall charge the trrIsurcr with pi
? fun par ,a'ue thereof ]"
SEC. 6. The state treasurer ShaII an
Ike and keep in his Office Il register W.
all bonds issued under the provisions re
this act which register shall show co
those things required to he shown 20
the register thereof kept in the IN
ice of the state auditor nd such
Ter information with respect thereto en-
the trea surer shall deem it proper ITO
1 necessary to record. no.
SEC ? Jvba, ,oo,5,. Tor
cry of same the state treasurer shall 30
n each of said bonds with his own
per name and in his official capa- the
? as such state treasurer and each ''
,hall have the Iitboe,ra nbo5 ~. 49,. thi!
facsimile signature of the state
Isurer, which signatures shall bind aul
Sttle VI iuarO Ine state trea Surer
u make delivery of the bonds TO
purchaser thereof on behalf of the Is
e Of Idaho and shall at the time row
Re collection from said purchaser nub
the full amount Of the price for TOR
oh the same are sold. mex
SEC. S. All moneys received from OF
Sale of the Idaho State Highway e"V
ds- Fourth Issue. shall he paid into on
Idaho state Highway Fund. Such elec
evs are hereby appropriated and r"1u
@ available for the laying out. sur ed
ng and constructing of a system mar
tate highways in the state of Idaho. tuti'
idin@ all bridges, culverts and
los and purchase Of rights-of- a2o-
ling part thereof or being nee
~ to be had, used or occupied in a .
ection Herewith and for such nur-
S ONLY No moneys shall AT any
be Withdrawn pernanentlv from a r
tund except upon warrant of the q