Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-10-21

tuHu1 IoQItn pond 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 cou
pons attached to said bonds become
due, beginning January l, 1881, he
small also pay so much of the princi-
pal OF said bonds as it may be posi-
pie to pay after reserving in said
fund moneys sufficient in amount
10 pay the interest upon those said
ponds then outstanding which will
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, au,
| thorlzed 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
| TO the said state highway redemp,
ton 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 or the
ponds authorized to be issued under
ana by the provisions OF this act
and the interest which shall accrue
Cnereon, according TO the strict
terms thereof, the faith and credit
of the state of Idaho is soIempIy
pledged, and for the payment CT
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. II. The state treasurer shall
give two weeks notice ny publica-
tion in two newspapers of general
circulation, one OF which is publish
ed in the state of Idaho, of the in
IGNITION 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
chan the par value thereof, upon the
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 readyertise
lOr bids, as herein provided.
SEC. 10. The expenses OF printing
or lithographing and procuring suit
able bonds with interest coupons at
Cached, 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
pear date of January I, 1921, ana
become due January l, 1941. 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-
partment.
The foregoing allotment is made
contingent upon the availability OIL
cooperative funds to be supplied by
counties, highway districts and the
edGral government, as provided by
aw, or funds supplied by private do,
lation or received from any other
ource, and should it appear to the
of the department of pub
ic works at any time subsequent to
anuary 1, 1922, that cooperative
unds will not be supplied in the nee
ssary amounts to make use of the
ntire amount herein appropriated,
he department of public works may
Sc, at its discretion any remainder
or the construction or completion of
UGH state highways as deemed by it
or the best interests OF the state.
SEC. 16. This act shall not take
fleet until at the next general cleo
ION II Sudll nave DGGu SuDlulllSu 70
he people and shall have received u
majority of all the votes cast for Oh
gainst it at such election.
The question to be submitted to
he electors of the state at the neXg
eneral election in order to deter
line whether they will approve or
eject this act, shall be as follows:
Shall a bond issue of $2,000,O00
e authorized for the laying out, sur
eying and constructing Of state
ighways?
SEC. IT. The Secretary of Stats
directed to publish this act in one
ewspaper in each county, if one be
ublished therein, throughout the
ate for three months next preced-
lg the next general election. The
ecretary of State is directed to GER
fly to the county auditors and the
tier to print on the ballots at the
ext general election the foregoing