The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-08-30
and not previously repaid.

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 Ameri-
lea as and when the same shall be-
come due, the state treasurer shall
reserve any and sufficient of the
money in his hands, at the least pos
sible cost, in preference to all other
claims whatsoever, except the inter-
est upon and the principal Of other
bonds of the state of Idaho hereto
fore issued under acts Of the legis-
lature of said state.
Sec. IL. The state treasurer shall
give two weeks notice publication
in two newspapers of general cir
culation, one of which is published
in the state Of Idaho, of the inten-
ton 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
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 offered and may
readvertise for bids, as herein pro-
vided.
Sec. Is. The expenses Of printing
or lithographing and procuring suit
able bonds with interest coupons at
tached, for the purpose of carrying
out the provisions of this act, shall
be paid out of the moneys arising
from the sale thereof as an expense
incident to the laying out, survey
ing and constructing Of said system
of state highways.
Sec. IA. The said state highway
bonds, fourth issue, to be issued
under the provisions of this act,
shall bear date of January /, 1921,
and become due January /, 1941.
Both bonds and interest coupons
herein authorized to be issued shall
be payable at the office of the state
treasurer at Boise, Idaho.
Sec. Is. The department of pub
lie works of the state Of Idaho is
hereby directed to apply the pro-
ceeds of the said Idaho state high
way bonds, fourth issue, as follows,
to wit:
To the completion Of 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
department.
The foregoing allotment is made
contingent upon the availability of
cooperative funds to be supplied by
counties, highway districts and the
federal government, as provided by
law, or funds supplied by private do
nation or received from any other
source, and should it appear to the
satisfaction of the department of
public works at any time subsequent
to January l., 1922, that cooperative
funds will not be supplied in the
necessary amounts to make use OF
the entire amount herein apropriat-
ed the department of public works
may use, at it's discretion any re-
mainder for the construction or COM
pletion of such state highways as
deemed by it for the best interests
Of the state.
Sec. 16. This act shall not take
effect until at the next general cleo
ton it shall be submitted to the
| people and shall have received a
majority of all the votes cast for or
against it at such election.
The question to be submitted to
the electors of the state at the next
general election in order to deter
mine whether they will approve or
reject this act, shall be as follows:
Shall a bond issue of ST.
100000 be authorized for the
laying out, surveying and con-
structing of state highways?
Sec. II. The secretary of state is
directed to publish this act in one
newspaper in each county, if one be
published therein, throughout the
state, for three months next preced-
ing the next general election. The
secretary of state is directed to GER
tify to the county auditors and the
latter to print on the ballots at the
next general election the foregoing
question. The returns on said ques-
ton shall be counted, canvassed and
certified in the manner provided by
law for constitutional amendments.