The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1920-08-12

ACKNOWLEDGEMENTS DIS may NC pASSSAAON
by the state highway board and. en-
body an absolute promise of the State
of Washington to pay both principal
and interest in gold coin of the United
States Of the present standard of val
ne and fineness, at such place or places
as the state highway board may pro-
vide, and to levy sufficient taxes each
year to pay the interest and prlncl-
pal of said bonds as they become due.
All bonds issued under the provisions
of this act shall be. sold to the high
est and best bidder or bidders, on such
terms and conditions and on open COM
petitive bidding after public advertise
ment and at such times as may be
prescribed by the state highway board
but not for sum so low as to make
the net interest returned to the pur-
chaser exceed five per cent per annum,
payable semi-annually, as computed
by standard tables, upon such sum.
Sec. 9-The money arising from the
sale of each issue of bonds shall be
deposited in the state treasury to the
credit of special fund to be known
as the estate Trunk Line Highway
Fund.-" which shall be used in carry
ing out the provisions of this act.
Sec. 10-All moneys paid to the
state under the provisions of chapter
142 of the Session Laws of 1915, conf
monty known as the Motor Vehicle
Code, and all acts amendatory thereof,
over and above such moneys as shall
be estimated by the secretary OF state
to be necessary for the purpose OF
administering said chapter 142, shall
be first appropriated and used for the
purpose of paying and discharglng
annually the principal and interest on
such bonded Indebtedness then due and
payable, and shall from time to time
be deposited in special fund to be
known as the estate Trunk Line High
way Bond Redemption Fund" Each
year after this act becomes effective,
and until all of said bonds have been
retired, it shall be the duty of the
state board of equalization to include
in the tax levied for state purposes
direct annual tax for such amount as
shall be necessary and sufficient, In adj
dition to the moneys collected under
said chapter LAP and paid into the said
state trunk line highway bond redemp-
ton fund, to pay the interest annual
ly, as it shall accrue on each and every
bond issued under the provisions of
this act and also to pay and discharge
the principal of such bonds at par val
ue as such bonds shall respectively
fall due; Provided, that no such di-
rect annual tax shall be levied for any
year in which sufficient money is col
lected under said chapter 142 and paid
into said bond redemption fund to pay
the interest as it shall accrue on said
bonds for that year and also to pay
and discharge the principal of all of
said bonds falling due during such
year.
Any surplus of money collected un-
der said chapter 142 after the pay
ment of the expenses of administering
said law by the secretary of state and
providing for the payment of the prin-
cipal of and the payment of the inter-
est on bonds falling due during that
year, as aforesaid, shall be paid into
fund to be known as the Estate
Trunk Line Highway Maintenance
Fund" and used for the purpose Of
maintaining the roads herein describ-
ed in pursuance of appropriations
therefor by the legislature.
Any surplus remaining in the state
trunk line highway maintenance fund
over and above that expended in pur-
suance of appropriations for the main
tenance of roads as herein provided
shall annually be distributed to the
various counties, cities and towns OF
the state in the following manner:
To the various counties of the state
in which are located primary highways
the Improvement and maintenance of
which is not provided for by this act
for the maintenance of such high
ways; and to the various cities and
towns of the state in (which are locat-
ed streets forming part of the route
of any primary highway through such
city or town, for the maintenance and
Improvement of such streets, sum
not to exceed two hundred dollars
($200.00) per mile for each mile OF
such primary highway and streets.
Primary highways and city ant
J town streets, in order to come under
the provisions of this act for main
tenance purposes, must be of char
acter equal and up to the standard Of
permanent highway construction. Al
sums apportioned to counties shall b,
placed in the permanent highwa!
maintenance fund of such county. Al
sums distributed to cities and town.
shall be RENTED by the state auditor
to the cities and towns entitled theret,
and shall be expended by such cite
or towns only for the maintenance O.
improvement of such streets. TIL
state highway board shall determine
what streets in cities and towns form
part of the route of any primar,
highway through such city or town
and what primary highways the i'm
. provement and maintenance of which
is not provided for by this act, AM
shall between the 18th day of Febru
airy and the 18th day of March of eacl
, year certify in triplicate, one copy t
|, the state treasurer, one copy to tn
county commissioners of each of sue
counties, and one copy to the cler
! of each city or town affected by tn
, provisions of this act, the number o
/ miles of primary highway, or city an
: town streets entitled to apportionmen
= as provided by this act. Any surplu
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