The Oroville weekly gazette. [volume] (Oroville, Wash.) 1905-19??, 1914-09-04

Warrants upon said fund shall be dr s.a
npon and shall be paid out OF sag iu are
in the same manner as waLIai r,,nS
drawn HpSp any n9 9ar Il IS hereby
a. S,t vie of the state treasurer and the board
to annually, on or before the Irs ,., uay +ps
h aug of directors of the district OF the
number of state bonds which VIII pe sv,v
during the coming yea year a and directors
t tt,s use said amount as a basis and upon
said basis to make the levy OF dlstric'
taxes for the said coming year: ..,a state
Sec "a For the payment OF saIu s.a. SUI
bonds ; sinking fund TO be known ana
6 5eIeI as the Quincy Valley Sinking
Fund' shall be and the same herepy ~ ~
created and there shall De paio '''' '"'N
Is All sums which shall be coiiecsed
by the state treasurer by reason OF pay aSe
ment by said district on account Oh tnv
nrinc,nal sums due on its bonds or any
f2) Ali sums which shall be coi,ectea
nc interest arising from said district Donds
70 the extent only of the rate OF interest,"
pavable by the state upon Its own bonds;;
the balance of said interest TO De pau
into the Improvement fund hereafter
mentioned. -. Aha
(3) The proceeds Of all sales BY the
state of said district bonds less ony tne
pavable by the state upon It's own D0nGs
and the rate on the district bonds whicn
difference shall go In saio Improvement
rs All interest received as the result
of the investment of all or any part OF the
said sinking fund and the Princlpatt, as
provided in the next succeeding section.
Sec rs. The state treasurer shall upon
the request in writing of the board ana on
the state auditors warrant drawn LOT Una.
purpose invest and re-invest any moneys
In said sinking fund. not then needed 70
meet the obligations of said sinking FUND
in the purchase of bonds or the Onlted
81. tnta nf a n
Guiding the state bonds issued under this
act and in any county, municipal or
school district bonds II this state al OF OF
safely kept by the treasurer In a proper
receptacle appropriately labeled: but the
treasurer must retain In the sinking iund
pay the interest next falling due on such
of said bonds herein provided to be Is
sued as may have been heretofore sold
The state treasurer upon the request IN
writing of the board shall sell any of
said bonds so purchased for investment
at not less than the purchase price there
manner as the sale of the. state bonds
issued under this act, and all of the pro-.
ceeds thereof less the costs OF sale shall
be placed in the said sinking fund: Pro-
vided, that said bonds In this section men
toned may be sold upon basis of net in
terest return equal to the basis upon
treasurer t,a shall faithfully collect ali in
terest ACQUIRING on said investment bonds
and place same in said sinking fund.
Sec 26 There is also hereby y,,S created TED
Quincy Valley Improvement Fund" and
there shall be placed in this fund.-
% That part. Of the receipts from the
interest collected by the state treasurer
from the district bonds less the amount
representing the rate of interest payable
by the state on its bonds issued under
90 That part Of the proceeds of the
sale of said district bonds less the amount
representing the rate of interest payable
by the state, referred to, In subdivision
G) herein, when said bonds are sold with
accrued interest.
go All water power and service rent
ais including water charges.
"a And when 1t is certain that there
is enough money in the said sinking fund
to pay the full amount of all state bonds
be issued. both principal and interest, then
all proceeds from whatever source under
this act shall be placed in said improve
rnent fund.
Sec. 81. Said improvement fund may
be used by said board upon proper war
rants by the state auditor for the pur-
saa sS Of e is ana 6E
purposes it must by the state treasurer
be temporarily transferred upon the
written request Of the board into either
proper uses of either of said funds to be
returned by the state treasurer out of the
first moneys received which would other
fer was thus made. and II, in the 5udg-
ment Of the board. it is desirable. all or
any portion Of said improvement fund
| may be invested and .re-invested in the
same manner and subject to the same
rules as provided in section twenty-five.
| Sec. %. The interest on said irrigation
district bonds in the hands Of the board
or state treasurer shall not begin to run
| until the state has sold all or some por-
| ton of said state bonds issued under this
| ton of said district bonds as equal in
| amount the portion of the state bonds so
sold; and as fast as the state treasurer
| interest shall begin to run on like
| amount of said irrigation district bonds.
| But if the state treasurer shall sell any
| or all of said irrigation district bonds
then interest shall begin to run on 80
| many as are so sold from the day of such
sale.
Sec. 90. The state auditor and the state
treasurer shall keep full and particular
| accounts and records of all their pro-
ceedings under this act, and they shall
transmit to the governor an abstract Of all
such proceedings hereunder, with an an
nual report, to be by the governor laid
| before the legislature biennially; and all
ter provided for in this act shall at all
party interested, or the governor. or the
er branch of the, legislature, or a joint
| committee Of both, or Of any citizen Of
Sec. 80 1t shall be the duty of the
| state treasurer to pay the interest Of
SAID bonds; when the same falls due, out
Of the sinking fund provided for in this
drawn for that purpose; and 1t Is hereby
made the duty OF said auditor to draw his
warrant for that purpose when said in
Sec. 81; This act, If adopted by the
people; shall take effect on the thirty
first sdr day of December. 4. D. nineteen
except those relating to and necessary
for its submission to the people, and for
returning. canvassing, and proclaiming
visions of this act shall take effect as
soon as may be under the provisions Of
| the state constitution and its amend
Sec; 80. This act shall be submitted
70 tne people of the State Of Washington
l Tor Their ratification at the next general
yember A; d. nineteen hundred fourteen;
| and all ballots of said election shall have
@ords or end H The end
same sans AGAINST Quincy Valley Irrigation
A Act, and opposite each of said lines there
snail be left spaces in which the voter
| may make a cross to indicate whether he
votes for or against the said act, and
tho those s;,, voting for said act shall do 50 BY
Quincy Valley Irriga ton Act" and ali
nose I'M e, voting ng against said act shall do so
oyX PLACING o;inS cross opposite the words,
Sec: 49, The governor of this state shall,
M inciude e the submission OF this act to the
vote or the people as aforesaid in his pro-
ton. e'e'
Sec a. The secretary of the state shall
cause this act to be submitted to the peo-
PIE OF this state and the same to be pub
> llshed In at least one newspaper in each
county; If one be published therein
throughout the state, for three months
next preceding the election at which
u Is submitted to the people as herein
pr0Vlded. And the sum of ten thousand
slo.oOo) dollars or. so much thereof as
may be necessary is hereby Appropriated
10 pay for said publication the 90 mo 70 L.