The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1935-06-21
1 Me- Proceedings Of
County Commissioners

| nor herein PROVIDED. mo OeuucJlOn
gbalt be made on the required tax
lew of the succeeding years for
the amount of interest paid on
bonds retired from the said sink
inc fund from such delinquent tax
collections.
nO) If at any time prior to
January 1, 1916, the County shall
increase it's annual appropriation
for maintenance and operating ex..
penses to an amount in excess of
S225,OOO, then there shall be lev
led an additional amount for the
retirement of refunding bonds eq-
ual to 1879 of such excess.
QD Upon execution of this ag-
reement, the committee shall pro-
coed to submit this refunding plan
to the bondholders whom it now
represents for their approval and
shall use reasonable diligence in
advising non-depositing bondhold-
ers of this plan for the purpose
Of securing the deposit of their
bonds with the committee and
their consent to this plan. The
county shall assist the committee
in obtaining names of the holders
of the outstanding bonds of the
County and shall supply the com
mittee with such financial and 9th
err knowledge, information or proof
relative to the official affairs of
the County as the committee shall
from time to time request and
shall cooperate with the commit
tee in securing the exchange of
refunding bonds for the bonds re-
funded. The committee and its
duly appointed depositary shall
have complete supervision over the
exchange of the refunding bonds
for the outstanding bonds and
shall serve as the intermediary for
such exchange.
f12) The committee shall pay
for the printing of the refunding
bonds, which printing shall be done
by Ballentine Printing Company
of Minneapolis, or such other
printer as shall be selected by the
committee; and the County shall
reimburse the committee for the
expense of printing the bonds, but
the cost of printing said bonds
shall not exceed the sum of Five
Hundred Dollars (S5OO). All ex.
.penses not provided for herein tC
be paid by the County, shall be
paid by the committee.
(13) Immediately upon execu.
ton of this agreement the refund
ing plan herein outlined shall be
presented for adoption to the en-
tire Board Of County Commission
ers of the County at a regular q
special meeting Of said Board, anC
following the adoption of this plar
by resolution, the County will aiC
and assist the committee in tat.rl
the required steps to perfect sucl
pian as provided by said munlcipa
refunding law, to-wit: (a) publica
ton of a synopsis of such plan il
two issues of a newspaper of gen
eral circulation published in tn
county; (b) filing complete ant
authenticated copy Of the plan o
resolution embracing such plar
with the State Examiner for tn
State of Montana, together wit
such cher data or information a
he shall require, said filing to b
made within thirty days after tn
adoption of the aforesaid resolu
ton by the Board of County Com
missioners.
(14) After the State Exanire
has approved, in accord with tn
provisions of Section 8 of said mu
nicipal refunding law, the refund
ing plan contemplated by this ag
reement, said plan shall becom
effective, when, in the judgmen
of the committee, sufficient an
cunt of outstanding bonds hav
been deposited with the commit
tee. When a sufficient amount c
bonds have been so deposited, til
committee shall notify in writin
the County Treasurer to the Of
feet that it finally acceps said pla
in behalf of all the bondholder
represented by it, whereupon ii
County shall exchange the refund
ing bonds for the bonds then hel
J by the committee. Said exchaup
shall be made at the office of Ii
depositary of the committee undt
the supervision of the comuitte
and the duly designated Officer
of the county. In no event, G,
cept with the consent of the Coui
ty, shall the committee finally a,
cept said refunding plan as afor,
said until the same has been col
scented to by holders of 1870
the outstanding bonds of the Coul
ty, exclusive of bonds held by II
County itself. If the County sha
file a petition in the United Stat,
District Court pursuant to Il
J provisions of Chaper TX Of Il
Federal Bankruptcy Act, then q
effective date of the refundir
} plan provided in this agreemel
} shall be subject to the decree
said Court. IF any such petite
shall be filed in said District Cou
} then this plan shall be filed ther
} with as the plan of readjustmc
= between the County and its bon
: holders. Such a petition shall
: filed upon the request of the col
: mittee.
| (15) Any member Of the COZ
e mittee and any firm or corpor
, flor, IF which oIich connunitteo mo,