The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-09-02

az oonus issued under the proyis-
nus OF this act, which register shall
snow all those things required ~ be-.
SHOWN oy the register thereof kent In
lhe oiflce OF the state auditor n,l
such other Information with resne..,
thereto AS the treasurer shall deem IL
proper and necessary to record.
SEC. 4. When ready TO nuke ,leli>
cry or same the state treasurer sb,I,
sign each of said bonds with his own
proper name and in ais official cnr
CITY as such state treAs;rsr ani zach
VI Tue interest coupons attached hero
To shall have the lithrgr,,phed mr.
printed facsimile signatpre .t the
state treasurer, when Signature, SHAH
plhd the state of Idaho. rl,r stare
treasurer shall make delivery of the
bonds to the purchaser thereof ON he-
nan OF the state Of idaho and shall
ut tue same time maNa collection from
salu purchaser of the full amount Of
me price for which ne same nrt sold
SHO. q All moneys received from
.he sale of the Idaho state highway
pohus, FOURTH issue, shall b. laid INTO
the Idaho state highway fund Such
moneys are hereby appr ,pIIatel and
lhaue available for the laying ont sur
Veying and constructing OF system of
state highways in the state Of Idaho.
including all bridges, culyerts. md
grades and the purchase oi rights of
way forming part thereof or beng
necessary to be had, used or occu,ied
In connection therewlrh ard for sucn
purposes only. No moneys shall at
any time be withdraw permanently
from sald tund except UPON the war
rant OF the state auditor.
SEC. 8. For the purpose of creat.
ing fund, which said fund is hereby
designated as the state highway 70,
demption fund, fourth bond issue, out
OF which shall be paid the principal
and 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
tS.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 1, 1881, he shall also
pay so much Of the principal Of said
bonds as it 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.
SEQ. 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 high
way 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
sufficient moneys for that purpose
| have accrued to the said state high
way redemption fund, fourth bond is
sue, repay to the state general fund all
amounts taken therefrom under this
provision and rot previously repaid.
SEC. II. For the payment of the
! bonds authorized to be issued under
and by the provisions of this act and
| the interest which shall accrue there
on, according to the strict terms there
of, the faith and credit of the state of
Idaho is solennly 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
the same shall become due the state
/ treasurer shall reserve any and suffi-
cient of the money in his hands, at the
least possible cost, in preference to all
other claims whatsoever, except the in
terest upon and the principal of other
bonds of the state OF Idaho heretofore
issued under acts of the legislature of
said state.
SEC. II. The state treasurer shall
give two weeks notice by publication
in two newspapers of general cfrcula-
ton, one of which is published in the
state of Idaho, of the intention 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 lowest rate Of interest
named by any bidder. The STATE
treasurer shall have the right to re
ject any and all of the bids Offered
and may readyertise for bids, as here
in provided.
SEC. 13. The expenses Of printin'
or lithographing and procuring suit
able bonds with interest coupons at
| tached, for the purpose of carryinj
out the provisions of this act, shall
be paid out of the moneys alisin
from the sale thereof as an eXpens
incident to the laying out, surveyn
and constructing of said system O
state highways.
SEC. IA. The said state highwa
| bonds fonrfh scc,1a fo h. icc1tad In6n