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

treasurer Snall make delivery Oh the
bonds to the purchaser thereof on be-
half of the state of Idaho and shall
at the same time make collection from
said purchaser of the full amount OF
the price for which the same are sold
Sec. 8. All moneys received from
the sale of the Idaho state highway
bonds, fourth issue, shall be paid into
the Idaho state highway fund. Such
moneys are hereby appropriated and
made available for the laying out sur
Feylng and constructing of a system
of state highways in the state OF Ida
no, including all bridges, culverts and
grades and the purchase of rights of
way forming part thereof or being
necessary to be had, used or occupied
IN connection herewith and for such
purposes only. No moneys shall at
any time be withdrawn permanently
from said fund except upon the war
rant OF the state auditor.
Sec. g. For the purpose or creating
a fund, which said fund is hereby de-
signed as the state highway redemp-
ton fund. fourth bond issue, out OF
which shall be paid the principal and
interest upon the bonds to be issued
under and by virtue of the provisions
of this act there is hereby levied a tax
of four-tenths of one mill 100000 up
on 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
9hOUa rpnnffnnod which q h0rohvy
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 it 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 I
bonds, fourth issue, authorized by this !
act then due, the state treasurer shall ,
pay the same out of the general fund t
of the state. The state treasurer shall 1
however, as soon thereafter as snffi I
cient moneys for that purpose have |
accrued 10 the said state highway
fund fourth bond issue
repay to the state general fund all
amounts taken therefrom under this
provision and not previously repaid.
Sec. IL. For the payment of the
bonds authorized to be issued under
and by the provisions of this act and
he interest which shall accrue thereon
and upon any day which the interest
according to the strict terms thereof,
the faith and credit of the state of
Idaho is solemnly pledged and for the
payment of such bonds and the inter
est thereon In lawful money of the
United States of America as and when
he same shall become due the state
treasurer shall reserve any and suffi-
;ient of the money in his hands, at the
east possible cost, in preference to all
other claims whatsoever, except the
,ther bonds of the state of Idaho
heretofore issued under acts of the
legislature of said state.
Sec. IL. The state treasurer shall
five two weeks notice by publication
n two newspapers of general circuja-
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
invite 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 stare
treasurer shall have the right to re-
ect any and all of the bids offered
nd may readvertise for bids, Us here
1 provided
Sec. 10. The expenses OF printing
r lithographing and procuring suit
Bile bonds with interest coupons at
lchQd for the DJIrDOSR of CARRYING