Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-09-24
CHAPTER 1873
On. 3. No. 274)
AN ACT

AN ACT
PROVIDING FOR THE ISSUANCE
AND SALE or STATE BONDS ~
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 OF STATE HIGHWAYS IN
THE STATE OF IDAHO; PROVID
ING BY A TAX LEVY A REDEMP
TON OR SINKING FUND FOF
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 PROvlDEDt DIRECTING
THE DEPARTMENT OF PUBLIC
WORKS HOW TO APPLY THE
PROCEEDS OF THE SALE or
SAID BONDS HEREBY AUTHOR
izED, AND PROVIDING FOR THE
APPROVAL OR REJECTION
HEREOF BY THE PEOPLE OF
THE STATE.
state OF Idaho:
SEC. I. For the purpose of pro-
viding moneys 10 be used in paying
for a portion OF the cost In laying out,
surveying and constructing a system
of state highways in the state of Idaho
a loan of $4,000 900 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 d.
rected to issue bonds of the state in
such denominations as he deems advis-
able, aggregating the amount OF the
loan authorized In Section 1, 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
annum, and such interest shall be paid
In equal semi annual installments upon
the LIST day of January and the first
day of July in each year. Such INSTALL |
ments Of interest shall be evil |
fenced by 40 interest coupons attach |
I'd to each bond in such manner that |
they may be detached and removed |
without mutilating either the bond or
he coupons themselves and be num-
oered consecutively from ] to 40 in
,lusive. Any or all of said bonds may,
1t the pleasure Of the state, be paid Off
md redeemed after ten years from the
late Of issuance.
SEC. 3. 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. 4. All bonds issued under
nd by virtue of the provisions of this
ct shall be signed by the Governor of
he state of Idaho with his own proper
anne and in his official capacity. They
hall likewise he signed by the sec
stary of state in his official capacity {
nd be authenticated by having attach $
d to each the great seal of the state
{ Idaho.
SEC. 3. After being signed by the {
overnor and the secretary OF state Y
nd being authenticated as hereinbefore r
rovided the said bonds shall be 6
alivered to the state auditor who shall r
AXE and keep in his office a register
lily and properly describing each o
md and the interest coupons attach o
thereto in the manner and form in e
HIGH bonds heretofore issued by the 9
ate of Idho are described in the reg Il
ters thereof kent in the office Of the r
ate auditor. Having so regis cred s
@ same, the state auditor shan de- o.
er the bonds to the state treasurer a
ID shan charge the treasurer with Il
e full par ra'ue thereof p
SEC. 6. The state treasurer shall n
AXE and keep in his Office Il register I.
all bonds issued under the pro visions "
this act, which register shall show =
those things required to he shown 9
the register thereof kept in the ~ :,
ice Of the state auditor and such u
her information with respect thereto
the treasurer shall deem it proper | 81
d necessary to record. -
SEC. z. When ready to make de- :.
cry Of same the state treasurer shall =,
IN each of said bonds with his own
oper name and in his official capa- ~
v as such state treasurer and each co
the interest coupons attached there nj
shall have the Autographed or print N
fac-simile signature OF the state
asurer, which signatures shall bind .r
} state of Idaho. The state trea surer an
Ill make delivery of the bonds to
purchaser thereof on behalf of the T.,
te of Idaho and shall at the time ro
Ike collection from said purchaser W.,
the full amount of the price for ~,
ich the same are sold. na
SEC. 8. All moneys received from Of
Sale of the Idaho State Highway CO
nds, Fourth Issue. shall be paid into on
Idaho State Highway Fund Such ele
neys are hereby appropriated and RET
de available for the laying out, sur cd
ing and constructing of a system me
state highways in the state Of Idaho. tut
luding all bridges, culverts and
des and purchase of rights of-way AT
ming a part thereof or being nee
airy to be had, used or occupied in
nection Herewith and for such pur-
es only. No moneys shall at any
e be withdrawn permanently from IN
fund except upon warrant of the rr
+e auditor