Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-17
CHAPTER 1913
n. B. No. 274)
AN ACT
AM ACT

PROVIDING FOR THE ISSUANCE
AND SALE OF STATE BONDS IN
THE SUM OF 100000; 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
Of The State of Idaho.
Sec. l. For the purpose of pro-
viding moneys to be used in paying
for a portion of the, cost Of laying
out, surveying and constructing a
system OF state highways in tie
state OF Idaho a loan of $2,OOO,OOO
is hereby authorized to be negotiated
upon the faith and credit of the
state of Idaho.
SEC. 2. 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
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 q rate which
shall not exceed the rate of five
per centum per annrm, and such in
terest shall be paid in equal
installments upon the
lst day Of January and the
LIST day OF July in each year. Such
lnstallments Of interest shall be
evidenced by 40 interest coupons at
tacbed to each bond In such man
ner that they may be detached and
removed without mutilating either
The bond or the coupon. themselves
Ind be numbered consecutively from
| to 40 inclusive. Any or all of
said bonds may, at the pleasure Of
the state, be paid off and red -emed
5uance.
SEC.3. The state treasurer shall
cause to be printed or lithogra 2hed
suitable bonds in proper form with
interest coupons attached thereto for
the purpose of carrying out the pro-
visions 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 capacity. They shall like
wise be signed by the secretary of
state in his official capacity and be.
authenticated 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 audit
Or who shall make and keep in his
office register fully and properly
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
thereof kept in the office of the
state auditor. Having so registered
the same. the state auditor shall
deliver the bonds to the stare
treasurer and shall charge the treas
lrer with the full par value thereof.
SEC. s. The state treasurer shall
make and keep in his office a regis.
Ter OF all bonds issued under the
provisions Of this act, which register
shall show all those things required
% be shown by the register thereof
kept In the office of the state audit
,r and such other information with
aspect thereto as the treasurer shall |
ieem 1t proper and necessary to re-
ord.
SEC. Z. When ready to make de- |
livery OF same the state treasurer
hall sign each of said bonds with
lis own proper name and IN his Of
fcial capacity as such state treasur-
r and each Of the interest coupons
.ttached thereto shall have the
autographed or printed facsimile
ignature Of the state treasurer
vhich signatures shall bind the state
4 Idaho. The state treasurer shall
make delivery of the bonds to the
urchaser thereof on behalf Of the
tate OF Idaho and shall at the same
ime make collection from said pur
haser Of the full amount OF the
rice for which the same are sold.
SEC. 8. All moneys received
rom the sale of the Idaho state
ighway bonds. fourth issue. shall
e paid into the Idaho state
ighway fund. Such moneys are
ereby appropriated and made avail
Bile for the laying out. surveying
nd constructing OF a system of
tate highways in the state of Idaho.
lcluding all bridges. culverts and
rades and the purchase of rights OF
'ay forming part thereof or being
ecessary to be had used or occu-
led In connection Herewith and f,r
lch purposes only. No moneys