The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1920-09-09
CHAPTER 1873. Oh. B. No. 274)
AN ACT.

| NNNlNNVy RPPANPAi 0biIlk lilC PiONGcdS
: Of the sale thereof for the payment
of portion Of the cost Of laying
out, surveying and constructing a
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 ct 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 l. For the purpose of pro-
yiding moneys TO be used in paying
for portion of the cost of laying out,
surveying and constructing a system
Of state highways in the state Of Ida
no a 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 d.
rected to issue bonds of the state in
such denominations as he deems adj |
yisablc, 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 in
terest at rate which shall not ex-
ceed the rate of five percentum per
annum, and such interest shall be paid
in equal semi-annual installments up
on the lst day Of January and the Isl
day Of July in each year. Such in
stailments of interest shall be evil
denced by 10 interest coupons attach
ed TO each bond in such manner that
rhey may be detached and removed
without mutilating either the bond or
the coupons themselves and be num-
0ered eonseeutively from TO 40 in
elusive. Any and all Of said bonds
may. at the pleasure of the state, be
paid of and redeemed after 10 years
IRON the date of issuance.
Section 3. The state treasurer l
shall cause to be printed or litho- {
graphed suitable bonds in prop |
er form with interest coupons at {
lached thereto for the purpose of car {
rying out the provisions of this act. c
Section a. All bonds issued under b
and by the virtue of the provisions of
,his act shall be signed by the COVER
nor Of the state of Idaho with his own {
proper name and in his official capac- ]
ty. They shall likewise be signed d
BY the secretary Of state in his official u
capacity and be authenticated by hav- b
ng attached TO each the great seal of i
NE state of Idaho. i
Section 5. After being signed by
he governor and the secretary of p
tate and being authenticated as here h
nbefore provided the said bonds shall o
ie delivered to the state auditor who #
hall make and keep in his office
egister fully and properly describing o
ach bond and the interest coupons at Ii
ached thereto in the manner and form Il
n which bonds heretofore issued by e
he state of Idaho are described in a
he registers thereof kept in tie office pt
Il the state auditor. Having so reg
stored the same, the state auditor &C
hall deliver thee bonds. to the state o.
reasurer and shall charge the treas CO
lrer with the full par value thereof. fl
Section 6. The state treasurer la
hall make and keep in his office nj
egiSter of all bonds issued under the 81
Of this act, which register Il
hall show all those things required Of
o be shown by the register thereof S,
,ept in the office Of the state auditor &C
md such other information with re- p
pect thereto as the treasurer shall N
leem it proper and necessary 90 re- h
ord. Of
Section Z When ready 60 make de- q
livery of same the state treasurer 81
hall sign each of said bonds with his h
,wn proper name and in his official II
'apaeity as such state treasurer and
'ach of the interest coupons attached e.
hereto shall have the autographed or 2
printed facsimile signature OF the tl
tate treasurer, which signatures shall n
lind the state of Idaho The state1 al
treasurer shall make delivery of che
,onds TO the purchaser thereof on be- el
lalf of the state of Idaho aud shall at e'
he same time make collection from W
aid purchaser Of the full amount of Il
he price for which the same are sold
Section s, All moneys received al
rom the sale of the Idaho state high al
gay bonds, fourth issue, shall be paid
nto the Idaho state highway fund. IS
ueh moneys are hereby appropriated No
nd made available for the laying out, p,
urveying and constructing of sys- st
EN- Of state highways in the state of tn
daho, including all bridges, culverts "a
nd grades and the purchase of rights th
( way forming part thereof or be- pl
~ necessary to be had, used or occu- al
led in connection herewith and for q
nch purposes only. No moneys shall co
/ any time be withdrawn permanent IN
/, from said fund except upon the st
-arrant of the state auditor.
Section .. For the purpose Of ere :
ting fund, which said fund is here
V designated as the state highway
fund, fourth bond issue, ce
at Of which shall be paid the princi-