Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-10-07

treasurer credited to and placed in
the said state highway redemption
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 cou
pons attached to said bonds become
due, beginning January l, 1881, he
shall also pay so much of the princi-
pal of said bonds as it may be posi-
Die to pay after reserVing in said
fund moneys sufficient in amount
TO pay the interest upon those said
bonds then outstanding which will
accrue and become due during ana
within the next ensuing year.
SEC. 10. IL at any time there
shall not be sufficient moneys in the
said state highway redemption fund,
.ourth bond issue, to pay the interest
upon or principal of the Idaho state
highway bonds, fourth issue, au,
Lhorized by this act, then due, the
state treasurer shall pay tho 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
20 the said state highway redemp,
ZION fund, fourth bond issue, re-
pay to the state general fund ali
mounts taken therefrom under this
provision and not previously repaid.
SEC. IL. For the payment OF the
bonds authorized to be issued under
Ind by the provisions OF this act
md 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 CT
such bonds and the interest thereon
in lawful money of the United Statss
of America as and when the same
shall become due the state treasurer
shall reserve any and sufficient of
the money in his hands, at the least
possible cost, in preference to all
other claims whatsoever, except the
interest upon and the principal OF
other bonds of the state of Idaho
heretofore issued under acts of the
legislature of said state.
SEC. ~. The state treasurer shall
give two weeks notice by publicR-
ton in two newspapers of general
circulation, one of which is publish
ed in the state of Idaho, of the in
tention of the state to sell the bsnsa
authorized by the provisions of thiA
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 bid
der. The state treasurer shall have
the right to reject any and all OF
the bids offered and may rsxdrsrtIss
for bids, as herein provided.
SEC. 10. The expenses of printing
or lithOgraphing and procuring silt
able bonds with interest coupons at
tached, for the purpose OF carrying
out the provisions OF this act. sheh
be paid out of the moneys srisi,s
from the sale thereof az an expense
incident to the laying out, surveying
and constructing of said systen OF
state highways.
SEC. IA. The said state highway
bonds, fourth issue, to be Issued un.
der the provisions of this act, shall
bear date OF January /, 1921, ana
become due January /, 1871. Both
bonds and interest coupons herein
authorized to be issued shall be pay
able at the office of the state treA-
Surer at Boise, Idaho.
SEC. Is. The department Of pub
lie works of the state of Idaho "a
hereby directed to apply the pre-.
ceeds of the said Idaho State high
way bonds, fourth issue, as follows,
to-wit:
To the completion or 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 de-
partment.
The foregoing allotment is made
contingent upon the availability OF
cooperative funds to be supplied by
counties, highway districts and tho
FEDERAL government, as provided by
law, or funds supplied by private do.
natlon or received from any other
source, and should it appear to the
satisfaction of the department OF pub
nc WORKS at any time subsequent to
January l, 1922, that cooperative
FUNDS Will not be supplied in the nee.
essary amounts to make use OF the
entire amount herein appropriated,
the department of public works may
use, at It's discretion any remainder
ANi ShC SOhSlluCllOH OF complexion OF
such state highways as deemed by It
for the best interests of the state.
SEC. 16. This act shall not taks
erect until at the next general cleo
ton it shall have been submitted to
the people and shall have received b
majority of all the votes cast for OIL
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 OF
reject this act, shall be as follows:
Shall a bond issue of 100000
pc authorized for the laying out, sur
veying and constructing of state
SEC. II. The Secretary of Stats
IS directed to publish this act in one
newspaper in each county, IL one be
published therein, throughout tho
state Tor three months next proceed.
nP the npyt pnnorol o1ao.go- mr..