The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-09-16

t1On Iunu. IOurLn DOnQ issue, out O
which shall be paid the principal an
interest upon the bonds to be issue
under and by virtue of the provisions
Of this act there is hereby levied ia,
of four-tenths of one mill 100000 up
Ion each dollar in value of the taxable
property within the state, the same
to be known as the state highway tax
and the proceeds of the same are
thereby appropriated and set aside unit
such time as the said Idaho state
highway bonds, fourth issue, and all
interest which shall have accrued
thereon are fully paid and redeemed
The moneys accruing from the source
above mentioned, which are hereby
diverted, appropriated and set aside
for the purpose above set forth, shall
| be by the state auditor and state treas
urer credited to and placed in the said
state highway redemption fund, fourth
bond issue, out of which fund the state
, treasurer shall pay the interest upon
the Idaho state highway bonds, fourth
issue, as the same shall become due,
and any day upon which the interest
coupons attached to said bonds be-
come due, beginning January l, 1881,
he shall also pay so much of the prin-
cipal of said bonds as 1t may be pos
sible to pay after reserving In said
fund moneys sufficient in amount to
pay the interest upon those said bonds
then outstanding which will accrue
and become due during and within the
next ensuing year.
Sec. 10. If at any time there shall
not be sufficient moneys in the said
state highway redemption fund. fourth
bond issue, to pay the interest upon or
principal OF the Idaho state highway
bonds, fourth issue, authorized by this
act, then due, the state treasurer shall
pay the same out Of the general fund
of the state. The state treasurer shall,
however, as soon thereafter as sniff |
cient moneys for that purpose have1
accrued to the said state highway
redemption fund, fourth bond issue, |
repay to the state general fund all
taken therefrom under this |
provision and not previously repaid.
Sec II. For the payment of Ihe1
bonds authorized to be issued under1
and by the provisions of this act and
The interest which shall accrue thereon |
and upon any day which the fnterest1
according to the strict terms thereof,
,uC l01tA anu OACO4t VI tAC otRCO Va
Idaho is solemnly pledged, and for the1
payment of such bonds and the inter
,st thereon in lawful money of the1
United States of America as and when
he same shall become due the stated
reasurer shall reserve any and suffi-
.ient of the money in his hands, atithe
east possible cost, in preference to all
'ther claims whatsoever, except the.i
interest upon and the principal of
'ther bonds of the state of Idaho1
heretofore issued under acts OF the1
legislature of said state. +:
S Sec. IL. The state treasurer shall
i've two weeks notice. by publication
n two newspapers of general. circula- /,
ion. one of which is published in the !
tate of Idaho, of the intention of the
tate to sell the bonds authorized by
he provisions of this act, and shall
1vite bids therefor. Said bonds must :
e sold at not less than the par value !
hereof, upon the best terms offered
nd at the lowest rate of interest !.
AIMED by any bidder The state
.easurer shall have the right to re-
,ct any and all of the bids offered 4
nd may readvertise for bids, Us here
provided
Sec. IS. the expenses OF printing ,
r lithographing and procuring suit
bic bonds with interest coupons at
tched, for the purpose Of carrying !.
1T the provisions of this act, shall v
) paid out Of the moneys arising
ON the sale thereof as an expense +.
cident to the laying out, surveying !
Id constructing of said system Of G
ate highways. a
Sec IA. The said state highway I,
,nds, fourth issue, to be issued I'M :
II the provisions Of this act, shall
ear date of January 1, 1921, and be- :,
me due January /, 1941. Both bonds
Id interest coupons herein authorized
be issued shall be payable at the L
flee of the state treasurer at Boise, y
ahO.
Sec. Is. The department OF public u
orks of the state of Idaho is hereby
rected to apply the proceeds of the Y
Id Idaho state highway bonds. fourth
sue, as follows, to wit:
To the completion or construction =
state roads or bridges in cooper "
ion with counties and highway dis
lets OF the state of Idaho or the fed =
al government or both, In such W
lounts as deemed proper by the de-
rtment. 20
The foregoing allotment is made
upon the availability of CO. =
erative funds to be supplied by r,
unties, highway districts and the
leral government, as provided byIE
v, or funds supplied by private do
ton or received from any other
Tree, and should 1t appear to the Fl
;isfaction of the department OF pub
works at any time subsequent to In
nuary 1, 1922. that cooperative funds I'M
Il not be supplied in the necessary =
counts to make use of the entire ~
ount herein appropriated. the de- ~
rtment of public works may use, at w
discretion any remainder for the WI WI
lstruction or completion of such .
te highways as deemed by 1t for
best interests of the state. nc
Sec. 16 This act shall not take
ect until at the next general cleo =
n it shall have been submitted to
people and shall have received -
jority OF all the votes cast for or He
inst II OF such election s4A4.snapus. q. /
III q cuocfiou RI no c11bn1fffod f0 tho cid