The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-10-28

ginning January j. 1881. he shall also
pay so much Of the principal of said
bonds MS it may be possible to pay
after reseryihg In said fund moneys
sufficient In amount to pay the inter
est upon those said bonds then out
standing which will accrue and bel
come due during end within the next !
! ensuing year
SEC. 10 liz ri 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, authorized by |
this act, then due. the state treasurer
shall pay the-sa out of the 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 all
amounts taken therefrom under this
provision and not previously repaid.
l.. SEC. III. For the payment Of the
bonds authorized to be issued under
and by the provisions of this act and
the interest which shall accrue there
on. according to the strict terms there
Of the faith and credit of the state of
. Idaho is soler1nly 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, AZ the
least possible cost, in preference to all
other claims Whatsoever, except the In
|, terest upon and the principal Of other
! bonds of the state of Idaho heretofore
D issued under acts of the legislature Of
] said state.
I'll SEC. 12 The state treasurer shall
; give two weeks notice by publication
( in two newspapers Of general circula-
J, ton. one OF which Ii published In the
d state Of Idaho. of the intention of the
{ state to sell the bonds authorized by
2 the provisions Of this act and shall
d invite bids therefor. Said bonds must
d be sold at not less than the par value
{ thereof, upon the best terms Offered
y 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
Z and may readvertise for bids, as here
y In provided
. SEC. Is. The expenses OF printing
!. or 1ithographing and procuring suit
1 dbtC DOn0p Will ntCICSb COultO1iS Ut
' tached, for the purpose of carrying
Z out the provisions Of this act, shall
Y be paid out of the moneys arising
u from the sale thereof as an expense
= incident To the laying out, surveying
!. and constructing of said system Of
= state highways.
e SEC. IL. The said state highway
y bonds. fourth issue. to be issued under
y the provisions Of this act, shall beal
. date of January /. 1921. and become
due January 1, 1941. Both bonds ant
interest coupons herein authorized Il
u be issued shall be payable Sc the OF
= flee of the state treasurer ut Boise
~ Idaho.
ct SEC. 1t. The department of public
=. works of the state of Idaho is hereb,
- directed 10 apply the proceeds of Thu
y said Idaho state highway bonds. fourth
~ y. issue, as follows. to wit:
~ To the completion or construction o
~ state roads or bridges in cooperation
ne with counties and highway district
J Of the state Of Idaho, or the fedora
" government Of both, In such amount
N as deemed proper by the department
I'D The foregoing allotment is mad
~ contingent upon the availability Of &C
~ operative funds to be supplied by cour
al ties, highway districts and the fedora
IN government, as provided by law, o
~ funds supplied by private donation o
3U received from any other source, an
in should II appear to the satisfaction Q
III the department or public works at an
~ time subsequent to January l, 1872;
IN that cooperative funds Will not be SUI
~ piled In the necessary amounts I
~ make use OF the entire amount herei
55in appropriated, the department OF pu'
u lie works may use, at its discretio
ny any remainder for the construction
1Il completion OF such state highways Q
VI deemed by II Tor the best interests
~ the state.