The Miller press. [volume] (Miller, S.D.) 190?-current, 1922-10-26

toned in the three preceding sections
shall be executed or accepted by the Com
MISSION until after such bond or contract
has been approved as to form and legality
by the. attorney general.
Section %. No conveyance or contract
relating to any right of way, easement or
license, nor the title to any land, ac-
quired by donation or purchase. as pro-
yided for in this Act, shalt be accepted.
until after ii shall have been approved
by the attorney general as TO form and
legallty;a all lands ma So eeqnired shall be
executed and acknowledged with fun
covenants OF warranty, granting
the title in fee, clear OF all incumbrances.
without any reversionary clause or condi-
ton Whatever. which deed shall be re-
corded in the county or counties wherein
and filed with the Secretary OF State. and
all condemnation proceedings provided
for in this Act, shall be instituted In the
the attorney general, in the name OF the
State Of South Dakota, as plaintiff. and
be governed. so far as applicable by the
provisions of Sections 293S to 1852 both
inclusive. of the Revised Code.
Section "a. Any county. city, incorpor-
ated town. organized civil township or
school district shall have power to pur-
chase electric current from the State for
its own use and for sale to its inhaoi-
tants; and for such purposes the govern
ing body OF any county, city, Incorporate
ed town. organized civil township or
school district SHALL have power TO con-
struct, own. maintain and operate a To-
any existing local system, when au-
thoriZed so to do by a majority of the
electors of the county, city, incorporated
town, organized civil township or school
district voting upon the proposition, at
any regular election conducted in the
manner provided by the laws Of the
State.
Section 25. Such commission shall
have. power to enter into agreements
| with the State Highway Commission. to so
construct the aforesaid power plant as to
for the passage of vehicles and pedes-
TRANS across the Missouri River, pro-
vided, that any additional cost OF con-
struction caused thereby. h be paid
out of the funds under the control OF the
State Highway Commission and the
State Highway Commission shall pro-
vide funds for keeping such roadway in
Section &c. The bonds mentioned in
Section 3 shall be in such denominations
as may be determined by the Governor.
shall bear the date of their issue. shall
be. made payable to the purchaser or
order, in not less than ten nor more
ject to such provisions, for their prior
payment and retirement as may be de-
termined by the Governor, which pro-
visions shall be expressed in the bonds.
and shall bear interest at a rate not ex-
ceeding five per cent per annum. pay
able annually or sem~i-annually, as may
/ De dSTCGu upon, WITH interest coupons
ATTACHED Cor each interest payment. saeh
bonds and coupons shall be signed by the
Governor. be attested by the, Secretary
G Gros 9tas sea, ana a, h soe,b a'e behoi, .nf Prov,d .le
that the great seal and the signature OF
said officers may be Autographed or en-
bonds shall recite upon its face that it
is issued under and pursuant to the pro-
visions of this Act. Such bondss and
coupons a ina be made paya6ie Anywhere
from AL taXations i'm this state and shall
be registered as provided In Section 1858
Of the Revised Code. provided, that such
per cent of the assessed valuation Of the
property Of the State:
Section II. Authority is hereby con-
ferred upon the Governor and Secretary
of Stale TO 70 execute and issue such
bonds, at such time, and in such amounts.
obtain sufficient funds for the purpose
of constructing, maintaining and opera
ting the aforesaid hydro-electric power
plant and transmission system in an
whenever any of such bonds shall have
been so executed and issued the STATE
shall be his duty to negotiate and sell
| the same upon the most advantageous
terms o~btainable, and, except as herein
! provided. none of such bonds shall be
sold for less than par end accrued in
| tersst, nor shall such bords. except as
provided in Section % hereof. be sold
4 uHlH the COMMISSION mas bUGATGu ltIlld-
tive contracts for the sale OF not less
than thirty million kilowsf hours Of
| current.
Section %. For the purpose Of defray-
ing the expenses OF such preliminary
work - the State Hydro Electric Com
mission created by Chapter 225 Laws of
commencement of the construction of
such power plant, authority is hereby
granted TO, the, State Treasurer to ne
gotiate and sell at once and upon such
| terms as such Commission shall deter
| mine, not to exceed Two Hundred Thous-
and Dollars of such bonds. and at shall
be the duty of the State Treasurer TO sell
SUCH bonds upon the request OF such
Commission. or il the Commission should
shall have the right to borrow money
for such expenditures for preliminary
work, by issuing warrants for n like
amount which warrants shall be in such
| denominationG and upon such terms as
the Commission may determines. The
Commission shah prescribe rules and
which such warrants shah be sold. paid
and retired under the provisions Of this
act. Such warrants shall designate on
their. face the. purpose for which they
are issued and shan be signed by the
| Governor, the Secretary of the Com
mission and be attested by secretcry OF
and shall bind the state TO pay tho same
according to the terms thereof.
Section 20. The good faith and credit
of the State OF South Daokta are hereby
pledged for the payment and redemption
of the bones issued under the provisions
of this Act and all interest on same, and
for the payment OF all warrants issued
pursuant to Section % hereof; and all
money which may be derived from the
sale of such bonds, and from the sale
of electric current, shall be and tho same
is hereby set apart and appropriated fol-
the payment OF the warrants herein
mentioned and the interest on same: the
payment OF the interest or such bonds as
the same becomes due: the cost Of con-
structing. maintaining and operating tho
transmission system; the expense of pro-
curing proper plans and specifications
the expense OF securing the authority Of
the federal government to construct z
dam or dam across the Missouri River
the purchase Of necessary land and ma
terial; the payment OF valid claims fol
injury to property taken or damaged
the salaries and expenses of the mem
bers OF the Commission, herein provided
for, It's officers, agents and employees
and all other authorized expenditures re
quired to accomplish the purposes o
this Act; and more Of such money shall
be used for any other purpose, except Z
which have been heretofore, or ma,
hereafter be, paid out Of such genera
fund. for the purpose of promoting tn
development of hydro-electric power.
Section 30. IL at any time IL shal
appear that there may not be sufficien
funds In the treasury Of the Commission
to pay the bonds herein authorized. an
any time after such power plant has bee
in operation for a period OF ten year
IL shall be made To appear that the ne
earnings of such plant are not sufficien
2 to provide an adequate sinking fund I
|! retire such bonds at maturity, IL sha
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