The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-06-21
PROVIDING FOR A FISE-YEAR
MORATORIlM

| Sec. That whereas public
emergency and crisis exists through
out this state endangering the public
| health. welfare and morals. in that
| agricultural crops and products have
been sold on an average below the
cost OF production since 1922, and all
agricultural land values have disap-
peared, due to the uncalled-for de-
| flation and manipulation of the cur
rency. through and by the Interna-
| tional bankers, which caused under
! consumption and produced starving
| millions throughout the nation: and
! whereas taxes have been steadily in
! Creasing in spite of the deplorable
condition confronting agriculture, and
| the cost of living has been generally
! maintained; and whereas agriculture
| is the principal industry in this state.
! and all other industries In this state
are solely dependent for their exist
i ence upon agriculture; and whereas
| there is a present no means by which
| existing mortgages and indebt edne SIS
! can be refinanced, and the debtors
and mortgages tmortgagors) are at
| the mercy of their creditors; and
whereas hundreds and thousands of
families have already lost their homes
| through mortgage foreclosures or
| other judicial proceedings; and where
! as hundreds and thousands more will
lose their homes unless adequate re-
lief is given by law; therefore. in or
der to prevent a complete financial
| collapse of agriculture, commerce and
| industry in this state and the utter
| ruin and destruction of agriculture,
| commerce and industry in this state,
and the collapse of civil government
! and in order to maintain the integrity
| of families and their homes, and the
public health, welfare and morals of
| the people of this State. a partial
| moratorium for a period of five years.
or until such time within the five
| year period that the Congress of the
United States shall have passed the
Farmers Farm Relief Bill, known as
the Frazier Bill, is hereby declared
| on all existing Indebtedness at the
time that this act takes effect, in
Guiding taxes and debts due by indi-
! viduals to the state, county, or other
political sub divisions, except that the
! benefits of this act shall not extend
to corporations, nor shall they eX-
| tend to any person. who, upon an or
| der to show cause before any district
| court. is found upon competent evil
! dence to be financially able to pay
| such Indebtedness without sacrificing
| his home, lands, goods or chattelS with
which he creates wealth for a living,
and which are necessary to maintain
| his family, or which are absolutely
| necessary and essential in the con-
| duct of his business, nor shall this
act be SO construed as to prevent the
recovery of property sold on the in
| stallment plan. where the seller main
tanned or maintains title.
Sec. .. That it shall be unlawful
for any sheriff. deputy sheriff or his
agent or any other official of this
state TO levy upon, attach, seize or
sell any personal property of what
ever nature, other than excepted in
Section l hereof, under an execution
issued upon a Judgment or upon any
other Indebtedness existing at the
time that this act takes effect for a
period of five years from the date
that this act takes effect. or until such
time within the fiveyear period that
shall have passed the Farmers Farm
Relief Bill, known az the Frazier
Bill, provided that such Judgment
debtor or other debtor pays one per
cent interest upon such judgment
debt or other debt annually from the
date that this act takes effect, pro-
vided further that in case such inter-
est is not paid before the expiration
of one year from the date that this
act takes effect that then the pro-
lection of this act shall cease as to
such debtor.
Sec. ;. That upon an execution or
foreclosure sale of real property, or
upon an execution or foreclosure sale
of real property heretofore made up
on which sheriffs deed has not vet
issued, no such deed shall issue for a
period Of five years or until such
time within the fiveyear period that
the Congress of the United States
shall have passed the Farmers Farm
Relief Bill. known as the Frazier Bill,
and the debtor shall be entitled to re-
deem for Il period of five years from
the time that this act takes effect,
or until such time within the five
year period that the Congress of the
United States shall have passed the
Farmers Farm Relief Bill. known as
the Frazier Bill. and he shall be en-
titled to the possession, rents, uses
and benefits Of the property so sold
| from the date of such sale until the
expiration of the period of redemp-
| ton, provided that the owner or the
person claiming an interest in such
real estate pays future taxes. to-
gether with one per cent interest on
is sold for annually from the date
that this act takes effect, provided
further that in case such interest is
not paid before the expiration of any
one year from the date that this act
| takes effect that then the protec-
ton Of this act shall cease as to such
| person.
| Sec. 4. That the state shall not
| foreclose or cancel any land contract
during the period that this morato-
where the state has heretofore fore
| closed or Cancelled such contract and
| is still the owner Of the land that
| then the same shall be reinstated up
on the application of the original
purchaser. or any person claiming
through him, upon the payment Of
| one per cent interest OF the amount
due within one year from the date
| that this act takes effect and the pur-
chaser or, anyone claiming through
five years within which to comply
| with the terms and conditions Of such
| contract, or until such time within
the five.year period that the Congress
OF the United States shall have passed
as the Frazier Bill. provided. hoWe U
that the purchaser, or those claiming
through him. pay future taxes and
one per cent interest per annum on
thf. purchase .nt prize from the date that
| Sec. 5. That no county shall issue
a deed upon any tax certificate now
outstanding for period of five years
from the date that this act takes eff
five-year period that the Congress OF
the United States shall have passed
the Farmers Farm Relief Bill, pro.
vided that the owner or the persor
claiming an interest in the real estate
sold for taxes pays one per cent in.
terest on the amount that such prop.
erty was or Is sold for annually from
the date that this act takes effect
provided further that in case such in.
terest Is not paid before the expira.
ton OF any year from the date thai
this act takes effect that then thu
protection Of this act shall cease t.
such person, and in all cases where
heretofore tax deed has been is
sued to the county. and the county i.
I still the owner of the real estate
then. the owner. or any person inter
ested in such real estate, shall hav,
the period during which this mora
torium - in effect to repurchase sucl
lands upon application provided sucl
purchaser within one year pays on,
per cent interest annually 81 III
amount OF taxes due, together will
i future fAxeA: auch Anu1icA fiAA how