Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-08-20

hereby designated as the state |:
highway redemption fund fourth n
bond issue out of which shall be O
paid the principle and interest upon t
the bonds to be issued under and C
By virtue of the provisions of this i
act there is hereby levied
tax of .cnthG of one mill
(S.0004 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 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 treasurer credited to and
placed in the said state highway re
demption fund. fourth bond issue, out
of which fund the state treasurer
j 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 inter
est coupons attached to said bonds.
become due. beginning 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 interest upon
those bonds then outstanding which
will accrue and become due during
and within the next ensuing year.
SEC. TO- If at any time there
shall not be sufficient moneys In
said state highway redemption fund
fourth bond issue, to pay the inter-
est upon or principal of the Idaho
: state highway bonds, fourth issue.
!, authorized by this act then due.
! the state treasurer shall pay the
e same out Of the general fund of the
} state. The state treasurer shall.
! however. as soon thereafter as suf-
e ficient moneys for that purpose have
accrued to the said state highway
8 redemption fund fourth bond issue.
d repay to the state general fund all
e amounts taken therefrom under this
s provision and not previously repaid.
It SEC. H. For the payment of the
bonds authorized to be issued under
e and by the provisions of this act and
d the interest which shall accrue
e thereon. according to the strict
Is terms thereof, the faith and credit
h of the state of Idaho is solemly
re pledged. and for the payment of
l. such bonds and the interest thereon
l. in lawful money of the United
lie States of America as and when the
le same shall become due the state
h treasurer shall reserve any and suf-
,e ficient of the money in his hands
t. at the least possible cost. in prefer
l. encc to all other claims whatsoever
id except the interest upon and the
er principal of other bonds of the state
es of Idaho heretofore issued under
m acts of the legislature of said state.
Of SEC. 70. The state treasurer sh al
Of give two weeks notice by publica
I'd ton in two newspapers of genera
s. circulation. one of which is pub
lished in the state of Idaho, of tn
LII intention of the state to sell tn
ed bonds authorized by the provision
tn Of this act, and shall invite bio
or therefor. Sad bonds must be sol
o. at not less thar the par value there
Of. upon the best terms offered an
or at the lowest rate of interest name
~ by any bidder The state treasure
W. shall have the right to reject an
~, and all of the bids offered and ma
&c readvertise for bids as herein PR
70 vided.
of SEC 49, The expenses of prin
be ing or lithogra phing -nd procurin
to suitable bonds with interest coupoI
of attached, for the purpose of carr,
ing out the provisions of this &C
h,, shall be paid out of the moneys ari
of ing from the sale thereof as an e.
pense incident 10 the LAYING on
ds surveying and constructing of sal
- system of state highways.
MS SEC IA The said state highwa
r,v bonds fourth issue, to be issued III
err der the provisions of this act. sha
he bear date of January /, 1921, an
IDS become due January l. 1941. Bot
of bonds and interest coupons herei
ars authorized to be issued shall be pa,
in able at the office of the state trea
nv uer at Boise. Idaho.
in SEC Is The department of pu
of lie works of the state OF Idaho
ng hereby directed to apply the pr
ate ceeds of the said Idaho state hig
to way bonds, fourth issue, as follow
-ge to wit:
lue To the completion or constructic
of state roads or bridges in cooper
all tion with counties and highway oil
is tricts of the state of Idaho or II
the federal government or both. in SUI
ter amounts as deemed proper by Il
red department.
eof The foregoing allotment Is ma,
lit contingent upon the availability
18th cooperative funds to be supplied
all counties, highway districts and Il
re- federal government. as provided
law. or funds supplied by priva
de- donation or received from any 9th
rer source. and should 1t appear to Il
ith satisfaction of the department
Of public works at any time subs
mr. quent to January 1. 1922, that c
ons operative funds will not be supple
the in the necessary amounts to ma
IN, use OF the entire amount herein a
rer propriated. the department of pu
ate lie works may use. at Its discreti'
MI, any remainder for the cOnstructi
~ or completion of such state hig