The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-09-30

$500 NeA' ana the proceeds of the
same are hereby appropriated and Set
"siue uhtli such time as The said Ida.
~ STATE highway bonds. fourth issue
auu an interest which shall have ne.
Oiueu thereon are fully paid and re-
.,0SlAeu' LIE moneys accruing from
1ne source above mentioned, which
arc uereoy diverted, appropriated and
SV1 aslue Tor The purpose above set
'olth' ShaH tie 10y The state auditor
"uu state treasurer credited To and
Piaceu IN Tie said state highway ra-
uenpuoh fund, fourth bond issue. ont
u "uleh tund the state treasurer shall I
pay lhe interest upon the Idaho state
highway bonds, fourth issue. as the
same snail become due and upon any
ua! upon which the interest coupons
attached to said bonds become due he
ehlulns JanuAry /, 1881, he shall also
pay 50 much Of the principal OF said
/ uolius as Al may be possible to uay
amer leserNlns Ia said fund moneys
SU4ilcieAt III amount to pay the inter.
est upon those said bonds chen ont.
standing which will accrue and be-
come due during and within the next
ensuing year
HhC. ~. II Il amy time mere shall
NOT be sufficient moneys in The said
slNte highway redemption fund, fourth
oolu Issue, TO pay the interest upon
OF principal Of the Idaho STATE high
| way bonds, fourth issue, authorizes. by
ms acl then due, the state treasurer
shAu pay the same out of the general
luud OF the state. The state treasurer
Shdll, however, as soon thereafter as
sufficient moneys for that purpose
nave accrued to the said state high
way redemption fund, fourth bond is
sue 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
ana Oy Inc provisions of this act and
me interest which shall accras there
on, according 10 the strict terms thcre-
OF, the faith and credit of the state of
luaho is soleLlnly 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-
Gent OF the money in his hands, at the
least possible cost, i'll preference to all
other claims Whatsoever, except the in
terest 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 shall
give two weeks notice by publication
III two newspapers of general circula-
ton, one of which is published in the
state of Idaho, of the intention of the
| state IN soil tbn honda kx,
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 re-
ject any and all Of the bids offered
and may readvertise for bids, as here
in provided.
SEC. ID. 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, surveying
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 1, 1921, and become
due January 1, 1941. Both bonds and
interest coupons herein authorized to
be issued shall be payable at the Of
fice of the state treasurer at Boise,
Idaho.
SEC. 10. The department of public
works of the state of Idaho Is hereby
directed to apply the proceeds of the
said Idaho state highway bonds, fourth
issue, as follows, to wit:
To the completion or construction of
state roads or bridges in cooperation
with counties and highway districts
of the state of Idaho, or the federal
government of both, in such amounts
as deemed proper by the department
The foregoing allotment is made
contingent upon the availability of co
operative funds to be supplied by coun
ties, highway districts and the federal
government, as provided by law, OF
funds supplied by private donation OIL
received from any other source, an6
should 1t appear to the satisfaction Of
the department of public works at any
time subsequent to January 1, 1922
that cooperative funds Will not be sup
piled in the necessary amounts t
make use of the entire amount herein
appropriated, the department of pub
lie works may use, at its discretion
any remainder for the construction o.
completion of such state highways a
deemed by it for the best interests o
the state.
SEC. 10. This act shall not TAX
effect until at the next general cleo
ton it shall have been submitted t.
the people and shall have received I
majority of all the votes cast for o
against it at such election.
The question to be submitted to tn
electors of the state at the next gener
al election in order TO determin
4 whether they will approve or rejec
4 this act, shall be as follows:
h Shall a bond issue of 100000 b
authorized for the laying out, surrey
] ing and constructing Of state higf
: ways?