Section 9.
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Whenever an agreement shall be entered into by and between the state and a district for the payment of such interest by the state, excepting when the directors of any such district -shall have notified the state treasurer on or before ninety days prior to any interest due date that it will not avail itself of said moneys for the payment of any single instalment of interest under its agreement with the state, the district shall, ninety days before the due date of said interest payment, forward an “interest certificate of indebtedness” for the amount of interest to fall due on said due date to the treasurer of the state of Oregon, and said treasurer of the state of Oregon shall sixty days prior to such interest due date call for bids for bonds of the state of Oregon which shall be general obligations of the state and shall be known as “district interest bonds,” series----------.