Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-10-14

| AOA Tic pun pOSc ABOVE set LOIlQ, SldA
De by the state AUDITOR and state
treasurer credited to and placed in
| the said state highway redemption
Lund, fourth bond issue, out OF which
Iund 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 ceu
pons attached to said bonds become
due, beginning January l, 1881, he
| shall also pay so much OF the priuci-
pal OF said bonds as it may be posi-
| Die to pay after reserying in said
| Iund moneys sufficient ii amount
10 pay the interest upon those SAID
bonds then outstanding which viii
accrue and become due during ana
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, az.
thorized by this act, then due, the
state treasurer shall pay the same
out OF the general fund OF the state.
Inc state treasurer shall, however,
as soon thereafter as sufficient mon
eys Tor that purpose have accrued
10 the said state highway rsdemp.
ton fund, fourth bond issue, re-
pay TO the state general fund ali
amounts taken therefrom under this
provision and not previously repaid
SEC. II. For the payment or the
bonds authorized TO be issued under
and BY the provisions Of this act
and the interest which shall accrue
thereon, according TO the strict
terms thereof, the faith and credit
OF the state OF Idaho is solemnly
pledged, and for the payment CI
such bonds and the interest thereon
IN lawful money OF the United States
OF America as and when the same
shah become due the state treasurer
shalI reserve any ana sufficient OF
the money IN his hands, at the least
possible cost, in preference to all
other claims whatsoever, except the
interest upon and the principal OF
other bonds OF the state of Idaho
heretofore issued under acts OF the
legislature of said state.
SEC. Y. The state treasurer shall
give two weeks notice by pubIica-
ton IN two newspapers OF general
circulation, one OF which is publish
ed IN the state OF Idaho, OF the in
tenIlon Of the state TO sell the bonds
authorized by the provisions OF this
act, and shall invite bids therefor
said bonds must be sold at not less
than the par value thereof, upon the
best terms offered and at the loWesl
rate OF interest named by any bid
der. The state treasurer shall have
the right TO reject any ana all OF
the bids offered and may readVertise
Tor bids, as herein provided.
SEC Is. The expenses OF printing
or Hthographing and procuring suit
able bonds with interest coupons at
tached, for the purpose Of carrying
out the provisions OF this act, shall
be paid out OF the moneys arising
from the sale thereon as an expense
incident TO the laying out, surveying
and constructing OF said system OF
state highways.
SEC. IA. The said state highway
bonds, fourth issue, to be issued IN.
der the provisions OF this act, shall
Dear date OF January /, 1921, an6
become due January l, 1871 Both
bonds and interest coupons herein
authorized to be issued shall be pay
able at the office OF the state trea-
surer at Boise, Idaho.
SEC. Is. The department Of pub
lie works of the state OF Idaho is
hereby directed TO apply the Pre-.
ceeds of the said Idaho State high
way bonds, fourth issue, as follows,
to-wit:
To the completion or construction
Of state roads or bridges in coop,
Grafton with counties and highway
districts OF the state of Idaho or the
federal government or both, IN such
amounts as deemed proper by the de-
Dartment.
The foregoing allotment is made
contingent upon the availability OIL
cooperative funds to be supplied by
counties, highway districts and the
federal government, as provided by
law, or funds supplied by private do
nation or received from any other
source, and should it appear to the
satisfaction OF the department OF pub
tic works at any time subsequent 10
January 1, 1922, that cooperative
funds VIII not be supplied in the nee
eSsary amounts to make use of the
entire amount herein appropriated,
the department OF public works may
-SSf - IT, 0ASLAGA4DA any IGu1GAuQEE
for the construction or completion or
such state highways as deemed by it
for the best interests of the state.
SEC. 16. This act shall not take
effect until at the next general. cleo
ton it shall have been submitted to
the people and shall have received u
majority OF all the votes cast for On
against it at such election
The question to be submitted to
the electors Of the state at the nexr
general election in order to deter
mine whether they viii approve or
reject this act. shall be as follows
Shall bond issue OF S2,O00,00O
be authorized for the laying ont, sur
veying and constructing Of STATE
highways
SEC. II. The Secretary Of stats
is directed to publish this act in one
newspaper in each county, if one be
published therein, throughout the
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