The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-10-07

sec. z. Inc state treasurer Is
hereby authorized, empowered and di-
rected to issue bonds of the state in
such denominations as he deems adj
visable, 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 rate which shall not ex-
coed the rate of five percentum per
annum, and such interest shall be paid
in equal semi-annual installmentS up
on the 1st day of January and the LIST
day of July in each year. Such in
stallments of interest shall be evil
denced by 40 interest coupons attach
ed to each bond in such manner that
they may be detached and removed
without mutilating either the bond or
the coupons themselves and be num-
bered consecutiyely from to 40 IN
elusive Amy or all of said bonus may,
at the pleasure Of the state, Sc paid
off and redeemed after 10 years from
the date of issuance.
Sec. 3. The state treasurer shall
cause to be printed or Autographed
suitable bonds in proper form with
interest coupons attached thereto for
the purpose OF carrying out The pro-
visions of this act
Sec. A. All bonds issued under and
by virtue of the provisions of this act
snail be signed by the governor of
the state of Idaho with his own proper
name and in his official capacity.
They shall likewise be signed by the
SECRETARY OF state in his official capac-
ity and be authenticated by having. at
tached to each the great seal of the
state of Idaho.
Sec. 5. After being signed 10y the
governor and the secretary of state
and being authenticated as hereinbe-
fore provided the said bonds shall be
delivered to the state auditor who shall
make and keep in his office a register
fully and properly describing each
bond and the interest coupons at
tached thereto III 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 regis
tered the same, the state auditor shall
deliver the bonds to the state treas
urer and shall charge the treasurer
with the full par value thereof.
Sec. g. The state treasurer shall
make and keep in his office register
of all bonds issued under the provis-
ions of this act, which register shall
show all those things required to be
shown by the register thereof kept III
the office of the state auditor and such
other information with respect thereto
as the treasurer shall deem 1t proper
and necessary to record.
Sec. Z. When ready to make deliv
cry OF same the state treasurer shall
sign each of said bonds with his own
proper name and in his official capa-
city as such state treasurer and each
Of the interest coupons attached there
to shall have the Autographed or
printed facsimile signature of the
state treasurer, which signature shall
bind the state of Idaho The state
treasurer shall make delivery of the
bonds to the purchaser thereof on be-
half of the state of Idaho and shall |
at the same time make collection from
said purchaser of the full amount of
the price for which the same are sold. |
Sec. s. All moneys received from |
The sale of the Idaho state highway |
bonds, fourth issue, shall be paid into |
The Idaho state highway fund. Such |
moneys are hereby appropriated and |
made available for the laying out, sur
veying and constructing of a system |
If state highways in the state of Ida
10, including all bridges, culverts and |
grades and the purchase of rights of
way forming a part thereof or being
necessary to be had, used or occupied
n connection herewith and for such
purposes only. No moneys shall at
any time be withdrawn permanently
rom said fund except upon the war
ant of the state auditor.
Sec. 8. For the purpose OF creating
/ fund, which said fund is hereby de-
signed as the state highway redemp-
ion fund. fourth bond issue, out OF
which shall be paid the principal and
interest upon the bonds to be issued
lnder and by virtue of the provisions
# this act there is hereby levied tax
If four-tenths of one mill (sO004) up
IN each dollar in value of the taxable
within the state, the same
O be known as the state highway tax,
md the proceeds of the same are
ereby appropriated and set aside until
UGH time as the said Idaho state
highway DOHuS, lCuFJu ISSUE, anu All
interest which shall have accrued
hereon are fully paid and redeemed.
he moneys accruing from the source
bove mentioned, which are hereby
Inverted, appropriated and set aside
or the purpose above set forth, shall
e by the state auditor and state treas
rer credited to and placed in the said
tate highway redemption fund, fourth
ond issue, out of which fund the state
reasurer shall pay the interest upon
be Idaho state highway bonds, fourth
5sue, as the same shall become d,se.
nd any day upon which the interest
oupons attached to said bonds be-
ONE due, beginning January |. 1881,
e shall also pay SO much of the prsn-
ipal of said bonds as 1t may be pos
lble to pay after reserving In said
Ind moneys sufficient in amount TO
ay the interest upon those said bonds
len outstanding which will accrue
nd become due during and within the
ext, ensuing year.
Sec. 10. If at any time there shall
OF be sufficient moneys in the said
ate highway redemption fund fourth
ond issue, to pay the interest upon or
rincipal OF the Idaho state highway
)nds, fourth issue. authorized by this
# then due thn state treasurer. shall |