The daily star-mirror. (Moscow, Idaho) 1911-1939, 1920-09-23

treasurer shall pay the interest upon
the Idaho state highway bonds, fourth
issue, as the same shall become die
and any day upon which the interest
coupons attached to said bonds be-
come due, beginning January l. 1881
| he shall also pay so much of the prin-
cipal of said bonds as it may be pos
sible to pay after reserying 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 ar
principal of the Idaho state highway
bonds, fourth issue, authorized 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 suffi-
cient moneys for that purpose have
accrued 10 the said state highway
redemption fund, fourth bond issue,
repay to the state general fund all
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 accrue thereon
and upon any day which the interest
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 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, 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. IL. The state treasurer shall
give two weeks notice by publication
n two newspapers of general circula-
ion one of which is published in the
tate Of Idaho, of the intention of the
tate to sell the bonds authorized by
he provisions of this act, and shall
invite bids therefor. Said bonds must
e sold at not less than the par value
hereof, upon the best terms offered
nd at the lowest rate of interest
AIMED by any bidder. The state
treasurer shall have the right to re-
ect any and all of the bids offered
nd may readvertise for bids, rs here
l provided.
Sec. Is. the expenses OF printing
r lithographing and procuring suit
BILE bonds with interest coupons at
lched, for the purpose Of carrying
ut the provisions of this act, shall
. paid out of the moneys arising
ON the sale thereof as an expense
lcident to the laying out, surveying
I'd constructing of said system of
ate highways.
Sec. ID. The said state highway
,nds, fourth issue, to be issued I'M
n the provisions of this act, shall
,ar date of January 1, 1921, and be-
me due January 1, 1871. Both bonds
i'd interest coupons herein authorized
be issued shall be payable at the
flee of the state treasurer at Boise,
aho. ~
Sec. is. The department of public
)rks of the state of Idaho is hereby
rected to apply the proceeds of the
i'd Idaho state highway bonds. fourth
ue, as follows, to wit:
To the completion or construction
state roads or bridges in cooper
on with counties and highway dis
cts of the state of Idaho or the ted
Il government or both in such
cunts as deemed proper by the de-
rtment.
The foregoing allotment is made
ltingent upon the availability of CO.
srative funds to be supplied by
mites, highway districts and the
eral government, as provided by
:, or funds supplied by private do
ion or received from any other
rec, and should it appear to the
sfaction of the department OF pub
works at any time subsequent to
uary /, 1922, that cooperative funds
not be supplied In the necessary
ounts to make use of the entire