Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-03

Idaho are described in the registers
thereof kept in the office OF the
state auditor. Having so registered
the same, the state auditor shall
deliver the bonds to the state
treasurer and shall charge the treas
urer with the full par value thereof.
SEC. g. The state treasurer shall
make and keep in his office q regis
ter of all bonds issued under the
provisions Of this act, which register
shall show all those things required
to be shown by the register thereof
kept in the office of the state audit
or and such other information with
respect thereto as the treasurer shall
deem IT proper and necessary to re
cord
SEC. Z. When ready to make de-
livery Of same the state treasurer
shall sign each of said bonds with
mis- own proper name and IN his Of
fetal capacity as such state treasur-
er and each of the interest coupons
attached thereto shall have the
Autographed or printed facsimile
signature of the state treasurer
which signatures shall bind the state
of Idaho. The state treasurer shall
make delivery of the bonds to the
purchaser thereof on behalf Of the
state of Idaho and shall at the same
time make collection from said pur
chaser of the full amount of the
price for which the same are sold.
SEC. g. All moneys received
from the sale of the Idaho state
highway bonds, fourth issue, shall
be paid into the Idaho state
highway fund. Such moneys are
hereby appropriated and made avail
able for the laying out, surveying
and constructing of a system of
state highways in the state of Idaho
including all bridges. culverts and
grades and the purchase of rights Of
way forming part thereof or being
necessary to be had, used or occu-
pied in connection Herewith and for
such purposes only. No moneys
shall at any time be withdrawn per-
manently from said fund except up
On the warrant Of the state auditor
SEC. 3. For the purpose of ere
ating fund, which said fund is
hereby designated as the state
highway redemption fund, fourth
bond issue, out of which shall be
paid 4be principal and interest upon
the bonds to be issued under and
! by virtue of the provisions of this
act there is hereby levied a
tax Of four-tcnths of one mill
($.0004 upon each dollar in
value of the taxable property
within the state. the same to be
known as the state highway tax, and
the proceeds of the same are hereby
appropriated and set aside until
such time as the said Idaho state
highway bonds fourth issue, and all
interest which shall have accrued
thereon are fully paid and redeemed
The moneys accruing from the
source above mentioned, which are
hereby diverted, appropriated and
set aside for the purpose above set
forth, shall he by the state auditor
and state treasurer credited to and
placed in the said state highway re-
demption 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 inter
est coupons attached to said bonds
become due, beginning January l.
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,
amounts taken therefrom 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 solemnIy
pledged, and for the payment IF
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 shat
give two weeks notice by public
ton in two newspaper Of general
circulation. one Of which is pub
lished in the state of Idaho. OF the
intention OF the state to sell the
/ bonds authorized by the provisions
CT this act, and shall invite bide
therefor. Said bonds must be sold
| al not less than the par value there
I OF nnOn tho hacf torn,c