Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1920-10-01
CHAPTER 1893
N. 3. No. 274)
AN ACT


SD PROVIDING FOR THE ISSUANCE
N AND SALE OF STATE BONDS u
THE SUM OF 100000; APPRoP
RAFTING THE PROCEEDS OF TIL
SAME THEREOF FOR THE PAY
COST OF LAYING OUT, SURVEY
ING AND coNsTRucTINo 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 sAIC
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 PROVIDED; DIRECTING
=, THE DEPARTMENT OF PUBLIC
WORKS HOW TO APPLY THE
PROCEEDS OF THE SALE OF
SAID BONDS HEREBY AUTHOR
izED; AND PROVIDING FOR THE
APPROVAL OR REJECTION
HEREOF BY THE PEOPLE OF
THE STATE.
Re it enacted by the Legislature of the
State of Idaho;
SEC. 1. For the purpose of pro-
viding moneys to 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
n loan of 100000 Is hereby author
lied to be negotiated upon the faith
and credit of the state of Idaho.
SEC. ?. 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 1st day of January and the first
day of July in each year. Such install
ments 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 mutlating either the bond or
the coupons themselves and be num- .
bered consecutively from / to 40 in .
elusive. Any or all of said bonds may, :
at the pleasure of the state, be paid off :
and redeemed after ten years from the ,
date Of issuance.
SEC. g. The state treasurer shall :,
cause to be printed or Autographed
suitable bonds in proper form with =
interest coupons attached thereto for >,
he purpose of carrying out the pro- =
-isions Of this act u
SEC. T. 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 -.
hail likewise he signed by the sec -,
etary of state in his official capacity &C.
nd be authenticated by having attach &C.
d to each the great seal of the state
f Idaho.
SEC. 5. After being signed by the ~
overnor and the secretary of state y,
nd being authenticated as hereinbefore ~
rovided the said bonds shall be -
elivered to the state auditor who shall 10
AXE and keep in his office a register
lily and properly describing each -
md and the interest coupons attach ~
thereto in the manner and form in -
hich bonds heretofore issued by the g.,
~ Ix11
49,. Nopt IN tie Juice CT the sht
g same. the state auditor shall de-
er the bonds to the state Treasurer A. ~,
d shall charge the tire Isurcr with Ia Ia
e full par aiue thereof. p.i
SEC. s. The state treasurer shall anT
Ike and keep in his office n register wo
all bonds issued under the pro visions rem
this art which ata ~
those IhlhsS required 10 ne shown dee
the register thereof kept in the the
ice of the state auditor s.nd such
Ter information with respect thereto eFe
'he eteasurer snail deem 1t proper tor
d necessary to record peo
SEC. z. When ready TO make de- jori
cry OF same the state treasurer shall ga
n each of said bonds with his own
per name and in his official capa- the
as such state treasurer and each gen,
he. interest coupons attached there whe
ihall have the Autographed or print this
facsimile signature of the state
lsurer. which signatures shall bind auth
state of Idaho The state treasurer and
IL make delivery of the bonds 70 ST
purchaser thereof on behalf of the Is d
e of Idaho and shall at the time new,
sc collection from said purchaser publ
the fun amount of the price for for
oh the same are sold. next
SEC. s. All noneys recei,.ea e.,-. OF s
Sale OF the Idaho Ststs rr;,,,r,a-, coun
ds' Fourth Issue, shall be paid into on
Idaho State Highway Fund S,ch elect
eys are hereby appropriate1 ava retur
e available for the laying out, sur co.
ng and constructing Of a sy,sts,,, mani
tate highways in the state Of idaho. tutfo
lding all bridges, cuiverts and
es and purchase OF rights-of- way aso-t
ing part thereof or being nee
~ TO be had, used or occupied in
ecton Herewith and for such pur-
only. No moneys shall at any