Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-08-19

! NC Ny tho olSilt duu4tOi anu pNaNN
| treasurer 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 upon
any day upon which the interest cou
pons attached to said bonds become
due, beginning January 1, 1881, he
shall also pay so much Of the princi-
pal of said bonds as it may be posi-
BILE 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 ana
within the next ensuing year.
SEC. 10. II 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, au,
| thorized 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 mon
eys for that purpose have accrued
/ to the said state highway redemp,
! tion fund, fourth bond issue, re-
! pay 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 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 OF
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 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. IL. The state treasurer shall
! give two weeks notice by publica-
ton in two newspapers of general
circulation, one of which is publish
ed in the state of Idaho, of the in
/ tention of the state to sell the bonds
authorized by the provisions OF thi.
act, and shall invite bids therefor
Said bonds must be sold at not less
than the par value thereof, upon the
I best terms offered and at the lowest
rate of interest named by any bid
der. The state treasurer shall have
the right to reject any and all OF
the bids offered and may readvertiss
for bids, as herein provided
SEC. 10. The expenses of printing
or lithographing and procuring suit
able bonds with interest coupons at
tached, for the purpose of carrying
out the provisions of this act, shah
be paid out of the moneys arising
from the sale thereof 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 un.
der the provisions of this act, shall
bear date of January 1, 1921, anG
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.
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 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.
partment
The foregoing allotment is made
contingent upon the availability of
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
lie works at any time subsequent to
January l. 1922. that cooperative
funds will not be supplied in the nee
essary amounts to make use Of the
entire amount herein appropriated,
the department of public works may
use, at its discretion any remainder
for the construction or completion of
Snch state highways as deemed by it
for the best interests of the state.
SEC. 16. This act shall not taxa
effect until at the next general cleo
ton IL shall have been submitted to
the people and shall have received q
of all the votes cast for OF
against it at such election.
The question to be submitted to
the electors of the state at the next
general election in order to deter,
mine whether they will approve or
reject this act. shall be as follows:
Shall bond issue of $4,000, O0O<
be authorized for the laying out sur
Veying and constructing OF state
SEC. II. The Secretary of State
IS directed to publish this act in one
newspaper in each county If one be
published therein, throughout the
state for three months next preced.
ng the next general election. The
Secretary of State is directed to GER
lily to the county auditors anS the