The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1920-08-16


be had, used or occupied in con-
nection Herewith and for such pur-
poses only. No moneys shall at any
time be withdrawn permanently
from said fund except upon the war
rant of the state auditor.
Sec. 9. For the purpose OF Great
ing fund, which said fund is hereby
designated as the state highway re-
demption fund, fourth bond issue,
out of which shall be paid the princi-
pal and interest upon the bonds to be
issued under and by virtue of the
provisions of this act, there is here
by levied tax of four-tenths of one
mill 100000 upon each dollar in
value of the taxable property with
in 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 high
way bonds, fourth issue, and all in
terest which shall have accrued
thereon, are fully paid and redeem
ed. 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 treas
urer shall pay the interest upon the
Idaho state highway bonds, fourth
issue, s'the same shall become due,
and upon any day upon which the
interest coupons attached to said
bonds become due, beginning Jan
uary /, 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 suf-
ficient in amount to pay the interest
upon those said bonds then outstand-
ing which shall accrue and become
due during and within the next en-
suing 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 interest
upon or principal of the Idaho state
highway bonds, fourth issue, Au-
thorized 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 mon
eys for that purpose have accrued to |
the said state highway redemption |
fund, fourth bond issue, repay to the
state general fund all amounts tax
en- therefrom under this privisiond
and not previously repaid.
Sec. 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 |
thereon, according to the strict terms
hereof, the faith and credit Of the
state Of Idaho is solemnly pledged,
Ind for the payment Of such bonds
md the interest thereon in lawful
money Of the United States of Ameri-
ca as and when the same shall be-
'ome due, the state treasurer shall
reserve any and sufficient OF the
money in his hands, at the least pos
'1ble cost, in preference to all other
claims whatsoever, except the inter-
'st upon and the principal of other
'onds of the state of Idaho hereto
ore issued under acts Of the legis-
ature Of said state. Ii
Sec. IL. The state treasurer shall
i've two weeks notice publication
n two newspapers Of general cir
one Of which is published
q the state Of Idaho, of the inten-
ION of the state to sell the bonds
uthorized by the provisions Of this