The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-10-01

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 |, 1881,
he shall also pay SO much of the prin-
! cipal OF said bonds as 1t may be pos
sible to pay after r4serving 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 yea
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 "
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 suffi-
cient moneys for that purpose have
accrued to the said state highway
redemption fund, fourth bond issue,
repay to the state general fund all
d11OOAt N Ill u1oOl LII
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
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 n 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
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 publication
in two newspapers of general c%ircula-
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
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 stare
treasurer shall have the right to re-
ject any and all of the bids offered
and may readvertise for bids, as here
IN provided
Sec. IS. Tine expenses or printing
lithographing and procuring suit
bonds with interest cOupons at
-aohod for tho pyrnOcQ IF parpVipC |
tut the provisions of this act, shall
De paid out of the money arising |
rom the sale thereof as an expense
Incident to the laying out, surveying |
constructing of said system Of :
state highways. /.
Sec. ID. The said state highway .
ponds, fourth issue, to be, issued I'M
err the provisions of this act, shall
year date of January /, 1921, and be-
ope due January J., 1941. Both bonds
nd interest coupons herein authorized
be issued shall be payable at the
'ffice of the state treasurer at Boise,
IDAHO.
Sec. Is. The department Of public
FORKS Of the state Of Idaho is hereby
ERECTED. to apply the proceeds Of The
aid. Idaho state highway bonds. fourth
ssue, as follows, to wit:
TO the completion or construction
+ state roads or bridges ii cooper
ton with counties and, highway dis
Of the state Of. Idaho or the led
raj government or both, in such :
mounts as deemed proper by the de-
artment. =
The foregoing allotment is made :
.Ontingent upon the availability of CO. d
perative funds to be supplied by
O%unties, highway districts and the
sderal government, as provided by
Nv. or funds supplied by private do :
alton or received from any other D