The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-09-09
CHAPTER 1913. Oh. b. No. 274.)
An Act


Providing for the issuance and sale OF
State Bonds in the sum of $2,000,-
600; appropriating the proceeds Of
the sale thereof for the payment of
portion of the cost of laying out,
poses for which provided; directing
of state highways in the State of
Idaho; providing by a tax levy a
redemption or sinking fund for the
payment of the said bonds at ma
turity and the interest thereon as
the same becomes due; appropriate
ing the moneys which shall accrue
to such sinking fund for the pur-
pose for which provided directing
the Department of Public Works
how to apply the proceeds of the
sale of said bonds hereby outhor-
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 prOvid
ing moneys to be used in paying for
portion of the cost of laying out, sur
veying and constructing a system of
state highways in the state of Idaho
a loan OF $2,009,00O 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 III
such denominations as he deems ad-
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 a rate which shall not ex-
ceed the rate of five percentutn per
annum, and such interest shall be paid
in equal Semi-annual inStallmentS up
On the LIST day of January and the 1st
day of July in each year. Such In
stallments of interest shall be evil
1enced by 40 interest COUPONS attach
I'd 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- |
)ered consecutively from [ to 40 IN
,lusive. Any or all of said bonus may, |
It the pleasure of the state, sc paid |
,ff and redeemed after 10 years from |
he date of issuance.
Sec. 3. The state treasurer shall |
,ause to be printed or autographed /
suitable bonds in proper form with
interest coupons attached thereto for t
he purpose of carrying out The pro- /
7isions of this act.
Sec. 4. All bonds issued under and
~ virtue Of the provisions of this act /
nall be signed by the governor OF
he state of Idaho with his own proper
lame and in his official capacity.
hey shall likewise be signed by the
ecrtary of state in his official capac
III, tio, Tod Nv n n +
ached to each the great seal of the
tate of Idaho.
Sec. 5. After being signed by the
overnor and the secretary of state
nd being authenticated as hereinbe-
0re provided the said bonds shall be
slivered to the state auditor who shall
lake and keep in his office a register
lily and properly describing each
ond and the interest coupons at
lched thereto in the manner and form
, which bonds heretofore issued by
lie state of Idaho are described in
lie registers thereof kept in the office
the state auditor. Having SO regis
cred the same the state auditor shall
oliver the bonds to the state treas
rer and shall charge the treasurer
18th the full par value thereof.
Sec. 6. The state treasurer shall
AXE and keep in his office a register
all bonds issued under the prOvis
rs Of this act, which register shall
low all those things required to be
Town by the register thereof kept IN
le office of the state auditor and such
her information with respect thereto
J the treasurer shall deem it proper
Id necessary to record.
Sec 7. When ready to make deliv-
y of same the state treasurer shall
gn each Of said bonds with his own
'oper name and in his official capa-
ty as such state treasurer and each
the interest coupons attached there
shall have the Autographed or
tinted facsimile signature of the
ate treasurer, which signature shall
nd the state of Idaho. The state