The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1920-09-09

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/ amount to pay the interest upon those
said bonds then outstanding which
will accrue and become due during
! and within the next ensuing year.
Section 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, author
! lied 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 moneys for
that purpose have accrued to the said
state highway redemption fund, fourth
bond issue, repay to the state genaral
fund all amounts taken therefrom un-
der this provision and not previously
repaid
Section 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 there
on, according to the strict terms there
of, 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 and 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.
Section II. The state treasurer
shall give two weeks notice by
publication in two newspapers Of gen
eral circulation, one of which is pub |
lished in the state Of Idaho, of the in
tention of the state to sell the bonds |
by the provisions Of this
act, and shall invite 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 state treasurer shall have the
right to reject any and all Of the bids
1ffered and may readvertise for bids,
rs herein provided.
Section 10. The expenses of print
ng or lithographing and procuring
suitable bonds with interest coupons
attached, for the purpose Of carrying
nut the provisions of this act, shall be
aid out of the moneys arising from
he sale thereof as an expense Incl
ent to the laying out, surveying and
of said system of state
ighways.
Section Ia. The said state highway
onds, fourth issue, to be issued under
he provisions of this act, shall bear ,
ate of January l, 1921, and become
ne January 1, 1941 Both bonds and
lterest coupons herein authorized to
e issued shall be payable at the Of
ce of the state treasurer at Boise,
laho.
Section IS. The department of
ublic works of the state of Idaho is
ereby directed to apply the proceeds
the said Idaho state highway bonds,
,urth issue, as follows, to-wit:
To the completion or construction
state roads or bridges in coopera-
on with counties and highway dis
lets of the state of Idaho or the fed
ral government or both, in such
mounts as deemed proper by the de-
The foregoing allotment is made
'ntingent upon the availability of CO.
,erative funds to be supplied by
'unties, highway districts and the
deral government, as provided by
W, or funds supplied by private de-
alton or received from any other
'urce, and should it appear to
lie satisfaction of the department.
public works at any time sub
,quent to January /, 1922, that
funds will not be sup
led in the necessary amounts to
AXE use of the entire amount
arein.appropriated, the department
public works may use, at its dis .
elton any remainder for the con- =
ruction or completion of such state +,
ghways as deemed by it for the best
terests of the state.
Section 16. This act shall not take
feet until at the next general cleo
on it shall have been submitted to
lie people and shall have received
ajority of all the votes cast for or
gainst it at such election
The question to be submitted to the
ectors of the state at the next gem
al election in order to determine
neither they will approve or reject
lis act, shall be as follows:
Shall a bond issue of S2,000,000 be
lthorized for laying out, surveying
I'd constructio of state highways?
Section II. The secretary of state
directed to publish this act in one
,wspaper in each county, if one be
lblished therein, throughout the r
ate for three months next preceding n
a naxt rrenaral elaetinp Tho Sacra \ /