Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-10


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 /,
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 interest upon
those said 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 the
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
same out Of the general fund Of the
state. The state treasurer shall
however. as soon thereafter as suf-
ficient moneys for that purpose. have
accrued to the said state highway
redemption fund. fourth bond issue,
repay to the state general fund all
amounts taken the-efrom under this
provision and not 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
thereon. according to the strict
terms thereof, the faith and credit
of the state Of Idaho is solemnly
n1pdOp6 and no -
such bonds and the interest 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 suf-
ficient of the money in his hands.
at the least possible cost, in prefer
encc 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. IL. The state treasurer shall
give two weeks notice by publica-
tion in two newspapers OF general
circulation one Of which Is nub-
l1shed in the state of Idaho. OF the |
intention of the state to sell the i
bonds authorized by the provisions
CT this act, and shall invite bids
therefor. Said bonds must be sold |
at not less than the par value there
Of upon the best terms Offered and
at the lowest rate OF interest named /
by any bidder. The state treasurer
shall have the right to reject any
and all of the bids Offered and may
readyertise for bids, as herein pro-
vided
SEC. IS. The expenses of print
Ing or lithographing .nd procuring
suitable bonds with interest coupons
attached, for the purpose of carrv-
ing out the provisions Of this act
shall be paid out of the moneys arts
ing from the sale thereof as an ey-
pense incident TO the laying out
surveying and constructing of said
system Of state highways
SEC. IA. The eaid state highway
bonds fourth issue, to be issued I'M
der the provisions OF this act. shall
bear date of January /. 1921. aud
become due January /. 1871. Both
b. nds and interest coupons herein
authorized to be Issued shall be pav-
able at the office of the state treas
nrer at Boise. Idaho
SEC. Is. The department of pub
lie works of the state OF Idaho is
hereby directed to apply the pro
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 coopera
ton with counties and highway dis
tr1cts OF the state of Idaho or the
federal government or both. In such
amounts as deemed proper by the
:.
The foregoing allotment is made ,
contingent upon the availability of
cooperative funds to be supplied b.
counties, highway districts and the
FEDERAL government, as provided By
law, or funds supplied by private
donation or received from any Other
source, and should it appear to the
satisfaction OF the department o.
pubic works at any time subse-
quent to January l. 1922. that co
operative funds will not be supplied
In the necessary amounts to make
use of the entire amount herein an
propriated. the department of pub
Tic works may use, at its discretion
any remainder for the construction
Or completion OF such state high
ways as deemed by 1t for the best
interests of the state.
SEC. 16. This act shall not take
effect until at the next general cleo
ion 1t shall have been submitted toll
he people and shall have received
! majority Of all the votes cast for
'r against 1t at ouch election.
The question to be submitted to
he electors of the state NJ the NEXT
general election in order to deer
nine whether they will approve or
eject this act. shall be as follows.
Shall bono issue of s2.0O0.00o
re authorized for the LAYING ont