The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1935-06-07

tO) SAID Tefunding bonds shall
be term bonds dated as of January
/, 1885, shall mature January l,
1884, shall bear interest at the
rate of 40 per annum for the
first ten years and at the rate of
90 per annum thereafter. Said
interest shall be payable semi-an-
nually on the 1st day of January
and July of each year. Principal
and interest shall be payable in
lawful money of the United States
OF America at the office of the
Sheridan county treasurer, Plenty
wood, Montana. All bonds shall
have proper interest coupons at
tached thereto.
(c) Said refunding bonds shall
be subject to redemption from time
to time on any interest payment
date at par plus accrued interest
in the following manner as pro-
vided by Section z of said munic-
lpal refunding law: Whenever mon
eys, accumulated from the levies
prescribed herein in the sinking
fund established for said bonds.
are on hand in excess of the a.
mount needed for interest require
ments for one year, and which are
sufficient to retire one or more
bonds, the board of county COM
missioners shall cause published
advertisement to be made by pub
fishing notice to the holders of
said bonds not less than 80 days
prior to the redemption date at
least once in a newspaper of gen
eral circulation in the county. Said
notice shall state the amount avail
able in the sinking fund which the
board of county commissioners may
use for the purchase of bonds Of
fered by tender; said purchases
will be made at the lowest prices
at which said bonds may be offer
ed to the extent of the amount
available. The expiration date ii,
said notice shah be fixed at such
time as to be not less than ten
(1O) days prior to the next ensu-
ing interest payment date, so that
said moneys may be used for the
retirement of bonds by lot.
Bonds shall be selected for re-
demption by lot by a committee
consisting of the following: (aJ
the treasurer of Sheridan county
CD the chairman of the Sheridan
board of county commissioners
/ (c) the State Examiner or his
nominee. The county treasurer
shall by mail notify the holders
thereof if known. The bonds 81
determined upon with interest &C.
crued to redemption date, shall be
paid forthwith on presentation Of
such bonds with all unmatureC
coupons attached on or after sucl
ensuing interest payment date
The bonds shall cease to bear in
terest on the redemption date anC
the accrued interest on any bono
ordered to be redeemed shall no
be paid on or after such redemp
ton date, unless such bond will
unmatured coupons attached shall
be surrendered for payment.
Immediately upon the consum
nation of the refunding plan here
In provided for, the county shall
use the unencumbered county sink
ing fund cash to call and retire a
many of the new refHnding bond
as possible. The unencumbere,
county sinking fund cash shall b
the county sinking fund cash a
shown by the county treasurer
books, less the amount necessar,
for interest requirements and tn
total amount tied up in close
banks.
Upon the exchange of the bond
when and after said plan is cor
Summated, any bond held by tn
state of Montana, or any of it
boards, will not be exchanged bu
will be paid in cash at face valu
thereof with accrued interest,
accordance with Chapter 6, SCI
ton II of the 1933-34 Extraordir
airy Session Laws.
I'D In the issuance of refund
{ ing bonds under this plan to tn
holders of the six per cent (6%t
funding bonds numbered No. SO t
No. 80 inclusive, and No. SO
] No. sc inclusive, dated January
1914, due January 1, 1884, and el
! roneously called as aforesaid, an
+: to the holders of all other pas
: due bonds which became due pric
: to December 81, 1884, the refund
t ing bonds issued to such holder
= shall be designated by special di;
= tinguishing numbers or otherwis
Whenever refunding bonds are
t be redeemed, as herein provide
: the refunding bonds to be redeem
ed shall be selected by lot fir
d from among those specially desil
J, mated until all the bonds so spe
+ tally designated shall have bee
!; redeemed. Provided. however. tn;
Q at the time the refunding bonds i
: sued are exchanged for the bono
d now outstanding the county con
missioners may coll by lot SUE