Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1920-08-26

tHo odIu Statc highway redemption
fund, fourth bond issue, out of which
fund the state treasurer shall paw
I the interest upon the Idaho state
highway bonds, fourth issue, as the
/ same shall become due, and upon
any day upon which the interest con
pOns attached to said bonds become
due, beginning January /, 1881. he
| shall also pay so much of the princi-
I pal Of said bonds as it may be posi-
| Bile 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 and
| within the next ensuing 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, an.
! thori2ed 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 redemp.
ton fund, fourth bond issue. re-
pay to the state general fund all
amounts taken therefrom under this
provision and not previously repaid,
SEC. II. 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 thereof the faith and credit
Of the state of Idaho is solemnly
pledged, and for the payment OF
such bonds and the interest thereon
in lawful money of the United States
of America as and when the same
shall become due the state treasure,
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 publica-
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 bonds
authorized by the provisions of thi,
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 readvertiss
for bids, as herein provided.
SEC. 10. 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, shah
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 un.
der the provisions of this act. shall
bear date of January I, 1921, ana
become due January l, 1871. Both
bonds and interest coupons herein
to be issued shall be pay
able ut the office of the state trea-
surer at Boise, Idaho.
SEC. Is. The department of pub
lie works of the state OF Idaho IS
hereby directed to apply the pro,
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
as deemed proper by the de.
lartment
The foregoing allotment is made
contingent upon the availability of
cooperative funds to be supplied by
counties, highway districts and the
ederal government, as provided by
aw, or funds supplied by private do.
lation or received from any other
ource, and should it appear to the
abstraction of the department of pub
&c works at any time subsequent to
anuary l, 1922, that cooperative
unds will not be supplied in the nee.
ssary amounts to make use of the
ntire amount herein appropriated,
he department of public works may
Use, at its discretion any remainder
or the construction or completion OF
uch state highways as deemed by it
or the best interests of the state.
SEC. 16. This act shall not taxa
fleet until at the next general cleo
ion it shall have been submitted to
he people and shall have received
Majority of all the votes cast for OF
gainst it at such election
The question to be submitted to
ne electors of the state at TIE next
eneral election in order to deter
line whether they will approve ~
eject this act. shall be as follows-
Shall a bond issue of 100000
authorized for the laying out, sur
eying and constructing CT state
ighways?
SEC. IT. The Secretary of Stats
directed to publish this act in one
ewspaper in each county, IL one be
lbltshed therein, throughout the
ate for three months next proceed.
g the next general election. The
'cretary of State is directed to GER
~ to the county auditors and the