Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1920-09-17

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 be 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 1t 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. 10. 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.
repay to the state general fund all
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 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 suf-
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
Of other bonds of the state
Of Idaho heretofore issued under
acts Of the legislature of said state.
SEC. L. The state treasurer shall
give two weeks notice by -publica-
ton in two newspapers 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
81 this act, and shall invite bids
therefor. Said bonds must be sold
at not less than the par value there
OF, upon the best terms offered and
at the lowest rate of interest named
Dy any bidder. The state treasurer
shall havn the right to reject any
and all Of the bids offered and may
readvertise for bids, as herein pro-
v,ded.
SEC. -. The expenses of print
ing or lithosr.phing ana procuring
suitable bonds with interest coupons
for the purpose of carry
ing ont the provisions of this act
shall be paid out Of the moneys aris-
ing from the sale thereof as an ex-
pense incident 70 the laying out.
iurveytng 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, and
become due January 1, 1871. Both
D, nds and interest coupons herein
to be issued shall be pay-
able at the office of. the state treas
lrer at Boise. Idaho.
SEC. IS. The department of pub
lie works of the state OF Idaho Is
hereby directed to apply the pro-
leeds OF the said Idaho state high
way bonds, fourth issue, as follows.
20 wit:
To the completion or construction
If state roads or bridges In coopera-
ion with counties and highway dis
riots OF the state Of Idaho or the
ederal government or both. In such |
mounts as deemed proper by the |
department..
The foregoing allotment is made
upon the availability of
funds to be supplied by
Counties. highway districts and the
ederal government, as provided by
aw. or funds supplied by private
Donation OF received from any other
oarce. and should 1t appear to the
abstraction Of the department OF
'ublic works at any time subse-
luent to January 1. 1922. that CO.
perative funds will not be supplied
n the necessary amounts to make
Use or the entire amount herein an
,ropriated, the department of pub
ic works may use. at its discretion
ny remainder for the construction
r completion Of such state high
vays as deemed by It for the best
interests OF the state.
SEC. 10. This act shall not take
fleet until st. the next general cleo.
ion 1t shall have been submitted to
he people and shall have received
majority of ell the votes cast for
r against II at such election.
The question to be submitted to
he electors of the state at the next
eneral election in order to deter