Annual Report of the State Highway Engineer to the Oregon State Highway Commissi
Annual Report of the State Highway Engineer to the Oregon State Highway Commissi
Oregon State Highway Dept
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00 of which sum at least $600, 000. 00 shall be issued in denominations of $500. 00 each, or less. The bonds issued in any year under the provisions of this Act shall be payable one-twentieth each year, commencing with the sixth year after the issuance thereof. One-half of the bonds payable each year shall be payable on the first day of April and the other half on the first day of October. Each bond shall bear upon its face a statement showing the date of its maturity. Said bonds shall bear int...erest at the rate of four per cent per annum, payable semiannually on April first and October first. Prin- cipal and interest on said bonds shall be payable at the office of the State Treasurer at Salem, Oregon, and if said State Highway Commission shall so direct, said bonds may also provide for payment at some other place. Said bonds shall be in a form embodying an absolute promise of the State of Oregon to pay the amount thereof in gold coin of the United States of America of the value of weight and fineness of the date of such bond, and shall be in such denomination as the State Highway Commission shall elect.
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