Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1927-04-08
EXHIBIT a"

An ordinance providing for the issu-
ance. execution and delivery by the
Town Of Plentywood in Sheridan
County, Montana, of it's negotiable
amount Of Twenty Three Thousand
Dollars ($23,000) bearing interest at
the rate of five and three quarters
per centum (5A&) per annum paya-
BILE ~semi-annually, to be denominated
'Refunding Town Bonds for the pur-
pose OF %refunding a like amount OF
r~edeemable, optional, and outstanding
bonded Indebtedness of said town,
consisting Of $4,000 sewer bonds and
$4,000 waterWorkS bonds, preScrib-
ing the form of said bonds, fixing the
date and designating the denomina-
ton thereof, rate of interest, matur-
ity and place of payment of said
bonds, providing for the levy of q
direct annual ad Valorem tax upon
all Of the taxable property in said
town in addition to all other taxes,
sufficient to pay the interest accru-
ing on said bonds promptly when and
as the same becomes due, n also
to constitute a sinking fund suffici-
emit to pay the principal thereof at
the time of their maturity: repeating
all ordinances, resolutions or orders,
or parts thereof in conflict herewith
and declaring an emergency:
WHEREAS, the Town of P~lentywood
in the County of Sheridan in the State
of Montana has heretofore issued me-
gotiable coupon bonds designated 49,
600 Sewer Bonds, dated January i,
1914, absolutely due and payable jan
uary /, 1884, but redeemable at the OPP
tion of said town, On or after January
/, 1924, bearing interest at the rate of
81 per annum, payable "semi-annually,
comprised of eight bonds numbered
consecutively from 3 to 10, both inclu-
= / ~ n he denomination n {
81 900 each; and $4,000 Water
works Bonds, dated January l, 1914,
absolutely due and payable January /,
1894, but r~edeemable at the option Of
said Town, m or after January /, 1924,
bearing interest at the rate of so per
annum, payable "semi-annually, COM
prised of fifteen bonds numbered con-
secutively from 6 to 20, both inclusive,
of the denomination of $1,000 each, in
terest upon which bonds has always
promptly been paid as it matured and
no question mas ever been raised in re-
spect of the validity of sale bonds; and
WHEREAS, all of said bonds, above
described, are now redeemable, option
al and outstanding, and there is not
sufficient money to the credit of said
Town applicable to the payment Of any
Of said bonds; and
WHEREAS, in the judgment of the
Town Council to levy and collect a tax
~ thN PoA BOaS VI pay ihk any VI S1ll
bonds would be a hardship and a bur
den to said town; and
WHEREAS, the council deems ii ex.
pedient and necessary, in order to en-
nance, preserve and maintain the ere.
dit of said town, to issue, in accordance
with the laws of the State of Montana
negotiable coupon bonds to be demon.
mated "Refunding Town Bonds" il
the aggregate principal sum of TWEEN
" Three Thousand Dollars 1923, 000)
bearing interest at the rate of five an(
three quarters per centum (5%%) pc
annum, payable s~emi-annually, for tn,
purpose of r~efunding a like amount o
said outstanding and unpaid bonded in
d~ebtedness; and
WHEREAS, the holders of said sew
or and water bonds are willing to ex
change same for a like amount of tn
Rounding Town Bonds hereby author
lied. and
WHEREAS, the Town Council ha
caused to be made diligent inquir.
among the holders of said water an
sewer bonds, whether they should &C
cspt in exchange therefor, RefundinI