The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-09-16

w TINS act, which register shau
INV All those things required =, H.. !
SHOWN oy the register thereof Kerr In
sne oilice OF the state auditor aad
suSh other information with r..,.s..
.nete'o as the treasurer shall deem i, |
prSper and necessary to record
SEo' Z. When ready to nrti;a deli>-
cry OF same the state treasurer shau
sign each OF said bonds win, his W.
proper name and in ais official ear,-
Wy as such state freAs;rsr ana nscb
VI Tue interest coupons attained here
20 ShaH have the lithpgrnnhed or
printed facsimile signature ~ tho
s.ale treasurer, whicn s.gl,ature, sham
oihd the state of Idaho. Tl,e stare
treasurer shall maxi deii.pry 81 tha
nolus TO the purchaser thereof an ha-
nan OF the state OF idaho ami shall
al Tue same time maKa sutic.tlon frnm
SAID purchaser of the full amom,t ~
Tue price Tor which ne same arr sold
StC. > All moneys reerlynl from
tie sale Of the Idaho stata highway
oohus, fourth issue Shall Ia nail MO
me Idaho state highway nlnL Sueh
moneys are hereby appr u,i,nle.l sud
maze available Tor the LAYING ouI sur
Neylng and constructiu,. OF a system az
stale highways in the state Of idaho
including all bridges, culyerts. ind
staues ana the purchase OF riyats of
wa! forming part thereof or beng
iiecessaf! 10 be had, used ar occnuied
III connection therewl-h ard for sucn
pun poses only. No moneys shall at
any Tune De Withdraw permanently
Aroln SAID fund except UPON the wsr
rant OF The state auditor
SEC. .. For the PURPOSE of GREAT
ing 1und. which said fund is hereby
designated as the state highway r,s-
uehptlon fund, fourth bond issue. out
Vi when shall be paid the principal
ana interest upon the bonds TO be is.
sued under ami by virtue of the pro-
VISIONS OF this act there is hereby
levied tax OF four-tenths of one mill
(s.OoO4l 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 Ida
no state highway bonds, fourth issue
ana all interest which shall have ac-
crued thereon are fully paid and re-
deemed. The moneys accruing from
u.
are hereby diverted, appropriated and
set ASIDE Tor the purpose above set
forth, shall be by the state auditor
ana state treasurer credited to and
placed in the said state highway re-
demptlon 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 interest coupons
attached to said bonds become due be-
ginning January l, 1881, he shall also
pay SO much of the principal Of said
bonds as 1t may be possible to pay
after reserying in said fund moneys
sufficient i'll amount to pay the inter
est upon those said bonds then out
standing which will accrue and be
come 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, fourtl
: bond issue. to pay the interest upoI
) or principal of the Idaho state high
way bonds, fourth issue, authorized b.,
this act, then due, the state treasure
shall pay the same out of the genera
fund of the state. The state treasure
shall, however, as soon thereafter a
sufficient moneys for that purpos
have accrued to the said state high
way redemption fund, fourth bond is
sue, repay TO the state general fund al
amounts taken therefrom under thi
provision and not previously repaid.
SEC. IL. For the payment of tn
| hnnn. unfhnriZaH n ha do
and by the provisions of this act an
the interest which shall accrub. there
on, according TO the strict terrte there
of, the faith and credit of the state Q
Idaho is solelnly pledged, and for th
payment of such bonds and the intel
est thereon in lawful money of til
United States of America as and whe
the same shall become due the stat
treasurer shall reserve any and suff
Gent of the money in his hands, ar tn
least possible cost, in preference to a
other claims whatsoever, except the ii
terest upon and the principal of othe
bonds of the state of Idaho heretofor
issued under acts of the legislature O
said state.
SEC. II. The state treasurer shal
give two weeks notice by publicatio
in two newspapers of general circula
ton, one of which is published in tn
state of Idaho, of the intention of tn
state to sell the bonds authorized b
the provisions of this act, and sha
invite bids therefor. Said bonds mus
be sold at not less than the par valu
thereof, upon the best terms offere
and at the lowest rate of interes
named by any bidder The stat
treasurer shall have the right to r,
ject any and all of the bids offere
and may readvertise for bids, as her,
! in provided.
SEC. 13. The expenses of printin
or lithographing and procuring sui
able bonds with interest coupons a
tached, for the purpose of carryin
out the provisions of this act, sha
be paid out of the moneys arisir
/! from the sale thereof as an expen'
|. incident to the laying out, surveyor
and constructing of said system
state highways.
SEC. IA. The said state highws
4 bonds, fourth issue, to be issued und'
a tI.1 w~0u;eiano - k1fc ook hall 10.