The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-09-09

IL
seq .. The state treasurer shan
mani ana Keep in his office A reg,ster
VI All ponds issued under the nrovis-
lns OF TINS act which register shall |
sno" al those things required 10 IN,
s,u"n oy the register thereof ,slt I'm
ene oAiice OF the state auditor aad
s, olner Information with respes..
'iiere'o Us the treasurer shall deem II |
PioPeL ana necessary to record
oHo. T. When ready TO nr,l,a deli,
81! Vi same the state treasurer shall |
sigh each or said bonds with his own
pioper name and in ais official cara
VI! as such state 'reAssrsr AMI zach
VI lne interest coupons attached here. |
10 shah nave the lithpgrsphed or
printed facsimile signature ,t the
state treasurer, when SIGNATURE, shall |
pl'id the state of Idaho. rl,c State
treasurer shall MAKE delivery Of the
ponds TO the purchasec thereof On be-
nan OF the state Of idaho and shall |
at the same time MAKE collection from
SAID purchaser of the ful amount Of
the price for which me same mr., sold
SEC. s. All moneys rpc,ayel from
the sale of the Idaho state highway
bonds, fourth issue, shall b., paid INTO
the Idaho state highway fund Such
moneys are hereby apIr ,utlatal Ind
made available for the LAYING out sur.
veylng and constructin,: OF a system of
state highways in the state of idaho.
including all bridges, culyerts. md
grades aud the purchase OF rights of
way forming u part thereof or beng
necessary to be had, used or occu,,ied
Ill connection therewl.h ard for sucn
/ DurDOSpS only No
any time be Withdrawal permanently
from said fund except UPON the war
rant OF The state auditor.
! SEC. 8. For the PURPOSE of cre.t-
ing fund, which said fund is hereby
designated as the state highway re-.
demption fund, fourth bond issue, out
OIL whlch shall be paid the principal
ana interest upon the bonds to be is
sued under and by virtue of the pro-
visions OF this act there is hereby
levied tax of four-tenths of one mill
l$.OoO4) upon 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 hereby appropriated and set
aside until such time as the said Ida
no state highway bonds, fourth issue,
and all interest which shall have ac-
crued thereon are fully paid and re-
deemed. 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 treasurer credited to and
placed in the said state highway re-
demption 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 upon any
day upon which the interest coupons
attached to said bonds become due be-
ginning January l, 1881, he shall also
pay so much of the principal of said
bonds as 1t may be possible to pay
after reserving in said fund moneys
sufficient in amount to pay the inter
est upon those said bonds then out
standing which will accrue and be-
come 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
r bond issue, TO pay the interest upon
9 or principal of the Idaho state high
way bonds, fourth issue, authorized by
this act, then due, the state treasurer
shall pay the same out of the genera
fund of the state. The state treasurer
shall, however, as soon thereafter al
sufficient moneys for that purpos,
have accrued to the said state high
way redemption fund, fourth bond is
sue, repay to the state general fund al
amounts taken therefrom under thi
provision and not previously repaid.
SEC. IL. For the payment of tn
bonds authorized to be issued unde
and by the provisions of this act an,
the interest which shall accrue there
on, according to the strict terms there
Of the faith and credit of the state o
Idaho is solennly pledged, and for tn
payment of such bonds and the inter
est thereon in lawful money of tn
United States of America as and whe
the same shall become due the stat
treasurer shall reserve any and stuff
Gent of the money in his hands, at tn
least possible cost, in preference to a.
other claims whatsoever, except the il
terest upon and the principal of othe
bonds of the state of Idaho heretofor
issued under acts of the legislature @
said state.
SEC. r. The state treasurer sha
give two weeks notice by publicatio
in two newspapers of general circuls
: ton, one of which is published in tn
D state of Idaho, of the intention of tn
state to sell the bonds authorized b
& the provisions of this act, and sha
"a invite bids therefor. Said bonds mui
be sold at not less than the par Walt
e thereof, upon the best terms offere
and at the lowest rate Of intere
named by any bidder. The sta
treasurer shall have the right to r
ject any and all of the bids offert
and may readvertise for bids, as her
in provided.
q SEC. 49, The expenses of printil
or lithographing and procuring SUI
able bonds with interest coupons 6
tached, for the purpose Of carryil
out the provisions of this act, shi
be paid out of the moneys arisi
from the sale thereof as an expen
incident to the laying out, survey
~ cai1