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When highway8 established.

examinations of the various suggested routes for extending the state trunk line highway system, as he shall deem necessary and for the purpose of arriving at this determination, he may solicit the co-operation of the county road commissioners, the district road commissioners or the township boards, as the case may be. After such investigation the state highway commissioner shall establish not to exceed five hundred miles of additional state trunk line highways on such lines as, in his judgment, are best adapted for serving the demands of public travel, which shall be connected with and form a part of the present state trunk line highway system.

See section 465.

HIGHWAY IMPROVEMENT LOAN BOARD.

An Act to authorize and provide for the raising of money by taxation

and for the borrowing of money by the state for the construction and improvement of highways and bridges, to authorize the issuance of notes and bonds as evidence of the indebtedness so created, and to provide a tax for the payment of the principal of such obligations and interest thereon.

(Act 25, (ex. sess.), P. A, 1919.)

perement

money.

The People of the State of Michigan enact: Highway im- (482) SECTION 1. For the purpose of carrying out the board. provisions of this act there is hereby created the highway

improvement loan board of the state of Michigan. Said board shall consist of the governor, who shall act as chair

man thereof, the state treasurer, the attorney general, the Rules and Secretary of state and the state highway commissioner. Said regulations.

board shall convene on the call of the governor and may adopt such rules and regulations as may be necessary and expedient

for the transaction of its business. Authority to (483) SEC. 2. The highway improvement loan board is borrow

hereby authorized and empowered, on behalf of the state of Limit, annual Michigan, to borrow such sums of money from time to time as gate.

may be necessary to carry out the purposes of this act not exceeding five million dollars in any one year, and not exceeding in the aggregate the sum of fifty million dollars, and as evi

dence of money so borrowed may direct and cause to be issued Bonds, tenure, the notes or bonds of the state of Michigan. Bonds issued Interest, etc.

hereunder shall be redeemable at the pleasure of the state at any time not less than five years, nor more than thirty years, from the date of issuance, shall bear interest at an annual rate not exceeding five per cent payable semi-annually, and

shall pledge the faith and credit of the state of Michigan How signed. for the payment thereof. All such obligations shall be signed

by the state treasurer and countersigned by the secretary of

and aggre

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state, and shall be issued in amounts of not less than one Denominahundred dollars each. Said bonds or notes shall be in the form prescribed by the loan board, and shall be offered for Form. sale at such times and in such manner as said board may by resolution direct. The proceeds of the sale of such obliga

Proceeds, tion shall be credited to the state highway fund, and shall credited. be used solely for the purposes specified in this act. The prin- Principal and cipal, and the interest thereon, shall be payable from taxes levied for that purpose. All obligations issued hereunder shall Tax exempt. be exempt from all taxation by the state or by any munici. pality, or political subdivision thereof. Every sale of such Marketing. obligations shall be made at the best price obtainable; and in no case shall notes or bonds issued under the provisions of this act be sold for less than par and accrued interest.

(484) Sec. 3. All obligations issued under this act shall Auditor genbe numbered consecutively and shall be registered in a book register. provided for that purpose which said book shall be kept in the office of the auditor general. Said registry book shall Registry set forth the date of the obligation, the number, the amount and the date of maturity, together with such other information as the loan board may require to be kept. There shall also be kept a register showing the date of payment of each obligation or of the interest thereon, which shall show specifically the number of the voucher by which such payment is made. Upon the payment of any note or bond, same shall be cancelled Cancelled and shall be filed with the voucher as the basis of the auditor general's warrant for their payment.

(485) Sec. 4. For the purpose of providing for the pay- Tax levy for ment of the principal and interest of obligations issued under interest.

principal and this act as the same shall from time to time become due, it shall be the duty of the auditor general to add to and incorporate in the state tax for the year preceding the date of maturity a sum sufficient to permit payment of said obligations in full: Provided, That for the purpose of paying Proviso, levy

for 1920, interest on said obligations as the same shall from time to et seq. time accrue, the auditor general shall add to and incorporate in the state tax for the year nineteen hundred twenty, a sum equal to one-fifth of one mill on each dollar of assessed valuation of the taxable property of the state, and for each year thereafter a sum equal to one-half of one mill on each dollar of assessed valuation of the taxable property of the state, which said tax, when collected, shall be used for the payment of interest that may become due during the ensuing year. Any portion of said tax not necessary for the pay

Residue of ment of interest on such obligations issued under this act shall belong to the highway fund and shall be used for the purposes hereinafter set forth in section five. Not more than Maximum five million dollars of moneys raised under the provisions of penditure. this act shall be expended by the state for highway purposes

any one year; and in the event that any portion of the

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Federal aided roads.

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Trunk line

tax herein provided for is available for expenditure for

purposes other than the payment of interest on obligations Maximum issued by the state, the aggregate of bonds issued in such year annual bond issues.

shall not exceed the difference between five million dollars

and the amount of such tax so available. Funding of (486) Sec. 5. All moneys arising from the sale of obliproceeds.

gations authorized by this act shall be placed to the credit of the state highway fund and shall be drawn therefrom

upon the warrant of the auditor general issued upon proper Purpose of requisition from the state highway commissioner. Said money expenditures shall be expended by the state highway commissioner solely

for the following purposes :

(1) For the purpose of paying the portion of the cost of the construction or improvement of federal aided roads, under the provisions of act number ninety-nine of the public acts of nineteen hundred seventeen, as amended, that is chargeable against the state or is necessarily incurred there.

by; State trunk (2) For the purpose of paying the expense incurred by the line high

state and the state's proportion of the cost of construction or improvement of state trunk line highways, including the rewards payable on such highways in accordance with the provisions of the statute governing the same;

(33) To pay the cost, and the incidental expenses necesbridges.

sarily incurred in connection therewith, of the construction or improvement of trunk line bridges built by the state in accordance with the provisions of act number three hundred

thirty-four of the public acts of nineteen hundred thirteen, Audit of as amended. No claim arising hereunder shall be paid from claim.

the funds derived from the sale of notes or bonds unless and until the same shall have been audited and allowed by the board of state auditors;

(4) For the purpose of paying the state reward on highhighways.

ways other than trunk line and federal aided roads, in accordance with the statute governing the construction thereof, as in the opinion of the state highway commissioner should

be assisted out of the funds hereby provided. Promissory (487) SEC. 6. In the event that said loan board shall authorized. deem it expedient, it may borrow money and issue promis

sory notes therefor. Such notes shall be in such form and

shall be redeemable at such time as said board may prescribe: Proviso,

Provided, however, That the aggregate amount of notes and limit, etc.

bonds issued in any one fiscal year shall not exceed the sum of five million dollars; nor shall the date of maturity of either notes or bonds be so fixed that more than five million dollars of the principal thereof exclusive of interest shall become due and payable in any such year.

Section 7 declares this act immediately necessary for the preservation of the public peace, health and safety.

Other

notes

PAYMENT OF INTEREST ON ROAD BONDS.

An Act to authorize boards of supervisors to use excess funds of the

county road fund for the payment of interest on road bonds in certain cases.

(Act 106, P. A. 1919.)

The People of the State of Michigan enact: (488) SECTION 1. In any county in this state wherein Payment of

interest. an issue of road bonds has been authorized by vote of the electors, as is by law provided, and no provision has been made for the payment of the first year's interest on such bonds, the board of supervisors of such county is hereby authorized to use any excess of funds remaining to the credit of the county road fund of such county for the payment of such first year's interest on such bonds.

TRANSFER OF MONEYS TO COUNTY ROAD FUND.

An Act to authorize the transfer of moneys from the general fund of

counties, in certain instances, to the county road fund of said counties, to be used in the construction, maintenance and repair of highways.

(Act 253, P. A. 1917.)

The People of the State of Michigan enact: (489) SECTION 1. When in any county, operating under Transfer of the county road system of the state, there is a surplus of moneys in the general fund, the board of supervisors of such county may, by resolution, direct the transfer of a part of such surplus from the general fund to the county road fund, to be used for the construction, maintenance and repair of highways under the supervision and direction of the board of county road commissioners: Provided, however, That in Proviso. no case shall moneys raised by general taxes, levied on the real and personal property of such county, be diverted under the provisions of this act.

CONSTRUCTION, ETC., OF FEDERAL AIDED ROADS.

An Act to provide for the construction, maintenance and improvement

of federal aided roads; to authorize townships, good roads districts and counties to raise money by taxation and by loan for the purpose of contributing thereto; to validate and legalize proceedings heretofore taken to raise money for the purpose contemplated by this act; and to provide an appropriation for paying the state's portion of the expense incurred hereunder.

(Act 99, P. A. 1917.)

federal aid.

The People of the State of Michigan enact: Assent to (490) SECTION 1. The legislature of the state of Michi- .

gan hereby assents to the provisions of the act of congress, approved July eleven, nineteen hundred sixteen, (thirty-nine statute laws three bundred fifty-five,) entitled “An act to provide that the United States shall aid the states in the construction of rural post roads, and for other purposes," and the good faith of the state is hereby pledged under the provisions of this act to make available from time to time sufi

cient funds to pay the state's portion of the cost of constructAuthority to ing and maintaining federal aided roads. The state highway make surveys, department of Michigan through the state highway commis

sioner is hereby authorized to make surveys, prepare plans and specifications and take charge of the building and maintaining of federal aided roads in accordance with the provisions of the aforesaid act of congress and the rules and regulations of the secretary of agriculture made thereunder

and such amendments thereto as may from time to time be Contracts, made. The state highway commissioner is further author

ized to enter into all contracts and agreements with the United States government relating to the construction and maintenance of rural post roads under the provisions of the said act of congress, to submit such scheme or program construction and maintenance as may be required by the secretary of agriculture, and do all other things necessary

fully to carry out the cooperation contemplated and providReceipt and ed for by the said act. The state treasurer is hereby author disbursement of moneys.

ized to receive any and all moneys due the state of Michigan under the provisions of this act, and shall pay out the same under the orders of the auditor general which shall be issued by said auditor general upon orders of the state highway

commissioner. Authority to (491) SEC. 2. Townships, good roads districts and counraise funds.

ties are hereby authorized to raise funds, either by general taxation or bond issues, for the building of federal aided roads and to deposit their portion of the cost of such roads with the state treasurer to be credited to the specific federal aid road project for which the money has been appropriated, which funds shall be paid out by the state highway commis

etc.

of

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