The Oroville weekly gazette. [volume] (Oroville, Wash.) 1905-19??, 1914-08-14

Warrants upon said fund shall be at ~
ion and snail be paid out ~ are
drs.ssn upoa any part Of the genera, 't ~
~ he tate. And It IL hereby maze 1 w
49, ~ ire state treasurer ana tne boiIt
~. tgy,oasilv. On or before the first day ~
august oil each year, notiIy ~ wI.."nS &c
board Of directors Of the dIst I'M tn said
5r1ter ~ state bonds which wiz - sou sou
1tiring the coming year and u is hsIsny
a 1oase the duty d said district directors
h use said amount as Das" - dfstyint
sald basis 10 make the leVy " "''''
~ leq for the said coming year q, ....o
efec 81 For the payment o. sald star
bonds a anking fand 70 p W., k1"g ginklng
FInd" ANAL be and the same neIepy ~
rrested and there shall be paid Into sa'n
fuTSni An sums which shall be collected
-, The statc treasurer by reason 0f pay
y9ent by said district on account o. VIZ
principaI sums due on lts bonhA OF any
-, - All sums which shall be collected
90 frtcreqt arising from said district bonns
10 the extent only Of ne rae a.. , OF hnnds
r.. bai,nrn or said Interest 10 he paid
INTO the Improvement fund hereafter
'"Gia 9} The proceeds Of all sales BY the
state Of said district bonds less only the
Inference between the rate OF interest,"
ravable by the state upon lts own bpnns
"a tbe rate on the district bonds which
difference shall go In said Improvement
fund. -. .,,t.
NJ the Investment Of all or any part Of the
gaid sinking fund and the principal az
provided In the next succeeding sectloh
Sec % The state treasurer shall upon
the request In writing 81 the, board and on
the state auditors warrant drawn Tor that
rIlrnoge invest and re-lnVest any moneys
In said sinking fund, not then needed TO
rect the obligations Of said sinking fund
in the purchase Of bonds Of the United
States or Of the state Of Washington, IN
Guiding the state bonds issued under this
net, and IN any county municipal or
school district bonds Of this state all Of
which bonds when 80 purchased shall be
safely kept by the treasurer In proper
treasurer must retain in the sinking fund
a sufficient sum OF money with which To
pay the Interest next falling due on such
If said bonds herein provided to be ls-
sued as NAV have been heretofore sold.
The state treasurer upon the request In
writing Of the board shall sell any Of
said bonds 80 purchased for investment
at not less than the purchase price there
Of and interest, % be sold in the same
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
terest return equal to the basis upon
which they were purchased. The state
treasurer shall faithfully collect all in
terest ACQUIRING on said investment bonds
Sec g. There is also hereby created
a fund 70 be known and called the
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
~ 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
ID herein. when said bonds are sold with
accrued interest.
(3l All water power and service rent
ais including water charges.
"a And when It IS certain that there
is enough money in the said sinking fund
to pay the full amount Of all state bonds
issued under this act or which can legally
be issued. both principal and interest, then
all proceeds from whatever source under
this act shall be placed in said improve
uent fund.
Sec. - Said improvement fund may
be used by said board upon proper war
rants by the state auditor for the pur-
poses OF maintenance and operation of
said system until it Is needed for said
purposes it must by the state treasurer
be temporarily transferred upon the
written request OF the board. into either
the irrigation or the sinking fund for the
proper uses Of either Of said funds to be
returned by the state treasurer out OF the
first moneys received which would other
wise go into the fund to which the trans
fer was. thus made, and II. in the judg-
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. IS. 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
act and in that case only on such a por-
ton OF said district bonds as equal in
amount the portion OF the state bonds so
sold; and as fast as the state treasurer
shall sell any portion of said state bonds
interest shall begin to run on a like
amount OF said irrigation district bonds
or all OF said irrigation district bonds
then interest shall begin to run on so
many as are so sold from the day Of such
Sec. %. The state auditor and the state
treasurer shall keep full and particular
accounts and records OF all their pro-
transmit to the governor an abstract OF all
such proceedings hereunder, with an an
before the legislature biennially: and ali
books and papers pertaining to the mat
ter provided for in this act shall at all
times be open to the inspection OF any
attorney general, or a committee OF eth
err branch of the legislature. or 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
of the sinking fund provided for in this
act, on the state auditors warrant duly
drawn for that purpose; and it is hereby
nade the DUTY OF said auditor to draw his
Warrant for that purpose when said in
terest is about TO fall due.
Sec. 81; This act. if adopted by the
PEOPLE. shall take effect on the thirty
hundred fourteen, as to all its provisions
except those relating to and, necessary
returning, canvassing. and proclaiming
the vote, and as to said excepted pro-
visions of this act shall take effect as
soon as may be under the provisions OF
the state constitution and its amend
meuts.
See. So. This act shall be submitted
70 the people. Of the State OF WASHINGTON
for their ratification at the next se1erSl
election 70 be held in the month OF No
Nember. y; ID. nineteen hundred fourteen:
ana all ballots Of said election shall have
printed thereon. and at the end thereof
the words For Quincy Valley Irrigation
Act and in separate line under the
Act and opposite each OF said lines there
snaH be lett spaces in which tho voter
may make a cross to indicate whether he
those voting for said act shall do so bv
placing I cross opposite the words For
Quincy Valley Irriga ion Act" and ali
thoSe voting 1S0luSt said act shall do SO
py placing 4 cross opposite the words
Against Quincy Valley irrigation Act.
See; IS The governor Of this state shalt
include the submission OF this act TO the
vote Of the people as aforesaid In his pro
clamdtion calling for said general elec-
ton. WV
Sec. 81 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
lshed IN It least one newspaper In each
county; II ono be published therein
throughout the state. for three months
next preceedtng the, election at which
II is submitted u the people as herein
provided. And the sum OF ten thousand
100000 dollars or 81 much thereof ~
may be necessary is hereby appronrlat~G
to pay for said publication the same 10 he
MINI ont of tho A,Nnntll flnnA - ~