The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1920-10-07

~ eu a TAX OF four-tenths NJ ON, -.,u
S.ovVs) upon each dollar en- vslna ~
me taxable property within the sts,a
.e same TO be known as In. $50
sn"ay TAX, and the proceeds OF ths
same are hereby appropriated ana -,
%sAue uhtll such time as the said Ia
NJ s.ate highway bonds, fourth issns
anu an interest which shall hava g.
Srueu thereon are fully paid and re
eeneu' Ine moneys accruinv fror,
.ue source above mentioned which
are nereoy diverted, appropriated and
Sel aside Tor the purpose above 90,
iolun' snail be by the state au,,itor
anu state treasurer credited tn and
placeu III the said state highway no
ueupuon fund, fourth bond issue an,
Va winch rund the state treasurer shali
pay the interest upon the Idaho stafa
highway bonds, fourth issue. M tho
same snail become due and upon amy
ua9 upon which the interest counons
a.'uched TO said bonds become due he
SHINING January /, 1881, he shall also
pay 50 much Of the principal OF said
oonus as 1t may be possible TO NAV
"lter reservlng in said fund monavs
sulilcieht III amount to pay the inter
est upon those said bonds then ont.
s'aAuIhg Which will accrue and he
Come que during and within the nex,
ensuing year.
SEC. III. If It any time there shall
not De sufficient moneys in the said
s1ale highway redemption fund. fourth
oohu issue, to pay the interest upon
OF principal of the Idaho state high
wa! ponds, fourth issue, AUTHORIZE by
1lls act, then due, the state treasurer
snali pay the same out of the general
Aulu OF The state. The state treasurer
snaii' however, as soon thereafter ms
sufficient moneys for that burmese
nave accrued to the said state NIGH
way redemption fund, fourth bond is.
sue repay TO the state general fund ALI
amounts taken therefrom under this
provision and not previously repaid.
eLC. IL. For the payment of the
ponds authorized to be issued under
ana by the provisions of this act and
the interest which shall accrue there
on, according to the strict terms thcre-
oI, the 1alth and credit of the stata of
luaho is solennly pledged. and for the
payment or such bonds and the inter-
est thereon i'll lawful money of the
United States of America as and when
the same shall become due tho state
treasurer shall reserve any and suffi.
Gent OF the money in his hands. nj the
least possible cost, la preference to all
otner claims whatsoever, except the in
terest upon and the principal of other
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 I'm 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. IS. 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 /, 1921, and become
due January 1, 1941. Both bonds and
interest coupons herein authorized to
be issued shall be payable at 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:
To the completion or construction of
state roads or bridges In cooperation
with counties and highway districts
of the state of Idaho, or the federal
government of both, in such amounts
as deemed proper by the department.
The foregoing allotment Is made
contingent upon the availability of CO.
operative funds to be supplied by coun-
ties, highway districts and the federal
government, as provided by law, or
funds supplied by private donation or
received from any other source, and
should 1t appear to the satisfaction of
the department Of public works at any
time subsequent to January 1, 1922,
that cooperative funds will not be sup
piled in the necessary amounts to
| make use of the entire amount herein
appropriated, the department Of pl5-
| lie works may use, at its discretion
any remainder for the construction or
completion of such state highways as
deemed by it for the best interests Of
| the state.
SEQ 16 This act shall not take
effect until at the next general cleo
| ton it shall have been submitted to
/ the nnonla and shall haUa rnnoiuad n