The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-10-21

ginning January 1, l9S1, be shall also |
pay so much Of the principal Of said
bonds as it may be possible to pay
after reserving In said fund moneys |
sufficient in amount to pay the inter-
est upon those said bonds then out
standing which will accrue and be- 4
come due during and within the next
ensuing year.
SEC. 10. IL ct 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 high
way bonds, fourth issue, AUTHORIZE. by
this act, then due, the state treasurer
shall pay the same out of tile general
fund OF the state. The state treasurer
| shall, however, as soon thereafter as
sufficient moneys for that purpose
have accrued to the said state high
way redemption fund, fourth bond is
sue, repay to the state general fund ell
amounts taken therefrom under this
provision 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 accrus there
on, according to the strict terms there
of, the faith and credit of the state of
Idaho is solemnly 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-
cient OF the money In his hands, a. the
least possible cost, in preference to all
other claims Whatsoever, except the in
/ hn Nd niraal Of har
bonds of the state Of Idaho heretofore
issued under acts Of the legislature of
said state.
SEC. II. The state treasurer shall
give two weeks notice by publication
in two newspapers of general circula-
ton, one Of which is published In the
state of Idaho, of the intention 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 re-
ject any and all of the bids offered
and may readvertise for bids, as here
in provided.
SEC. 13. 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 /, 1941. Both bonds and
interest coupons herein authorized to
be issued shall be payable st the Of.
! flee 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:
l To the completion or construction Of
state roads or bridges In cooperation
with counties and highway districti
of the state of Idaho, or the fedora
government of both, in such amount
> as deemed proper by the department
The foregoing allotment is mad
contingent upon the availability Of co
! operative funds to be supplied by coun
u ties, highway districts and the fedora
4 government, as provided by law, o
Y funds supplied by private donation o
II received from any other source, an
4 should 1t appear to the satisfaction o
! the department Of public works at an
u time subsequent to January 1, 1922
4 that cooperative funds will not be sur
. piled in the necessary amounts t
y make use of the entire amount herei
a appropriated, the department Of pG'
J lie works may use, at its discretio
u any remainder for the construction Q
d completion of such state highways a
= deemed by it for the best interests
" the state.
h SEQ 16. This act shall not tax
q effect until at the next general ele'
y ton 1t shall have been submitted
n the people and shall have received
8 majority of all the votes cast for {
y against it at such election.
N The question to be submitted to Il
81 electors Of the state at the next gene
n al election in order to determiI
3l whether they will approve or reje
81 this act, shall be as follows:
~ Shall a bond issue of 100000
~ auCnOrlZeu LOT Tue laying Out, suTfc
'6 ing and constructing of state hig
n waysf
" SEC. II. The secretary of state
ID directed to publish this act in o.
g newspaper in each county, IL one
g published therein, throughout the sta
IN for three months next proceeding t
y next general election. The secretary
~ state is directed to certify to t
81 county auditors and the latter to pri
rs on the ballots at the next general ell
III ton the foregoing question. The
d turns ON said. question shall be cou1
. ed, canvassed and certified in the ms
ner provided by law for constitution
amendments.
Approved March II, 1919.