The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-08-14
CHAPTER 1913. OH. B. No. 274.)
An Act

Providing for the issuance and sale of
State Bonds in the sum of $4,000
600; appropriating the proceeds of
the sale thereof for the payment of
a 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; appropriat-
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-
led 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 /. For the purpose Of provid
ing moneys to be used in paying for a
portion of the cost of laying out, sur
veying and constructing a system of
state highways in the state of Idaho
a loan OF S2,0O0000 is hereby author
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 in
such denominations as he deems ad-
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-
Din
their issuance Such bonds shall bear
interest at rate which shall not ex-
coed the rate of five percentuln per
snnum, and such interest shall be paid
in equal semi-annual installments up
on the list 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 consecutively from to 30 IN |
elusive. Any 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 g. 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 I
shall 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 I
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 by thei
governor and the secretary Of state
and being authenticated as herenbe-
fore provided the said bonds shall IT,
delivered to the state auditor who shall
make and keep iii his office a register
fully and properly describing each
bond and the interest coupons at
tached thereto in 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. 2
Sec. G. The state treasurer shall