Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1935-06-13

1947 ...... 1947-48 61,500
1913 .......... 194S-49 $500
1949 .......... 1949-5O 6l,50O
1850 l.......... 195O-5l 6l,5OO
1851 .......... 1852 $1,000
1852 .......... 1928 61,500
1853 1884 81, 800
The County hereby agrees to appro-
pirate out of the tax levy heretofore
made for sinking fund purposes the
sum of 500, 100 for payment OF inter
est coupons on said refunding bonds
which shall be due July l, 1885 and
January l, 1886.
90 After December 1, 1894, the
legal portion of all receipts from the
collection Of general County taxes
levied for the year 1888 and years
prior thereto (whether or not the
time of payment thereof has been or
shall be extended) shall at the end
Of each twelvemonth period begin
ming December list of each year be
set aside into the sinking fund for
the service OF the ~refunding bonds
and used first, to make up any delin-
quencies in the collection during
such period of taxes levied for the
payment of interest, and thereafter
for the payment of principal on the
refunding bonds in the manner here
in provided. No deduction shall be
made on the required tax levy Of the
succeeding years for the amount of
interest paid on bonds retired from
, the said 81 hiking fund from such del
inquent tax collections.
COY If at any time prior to Janu-
airy /, 1916, the County shall increase
dts annual appropriation for main
tenance and operating expense to an
amount In excess of s225, 900. 90, then
there shall be levied an additional
amount for the retirement of refund
ing bonds equal to 1870 of such ex-
cess.
(11) Upon execution Of this agree
ment, the Committee shall proceed
to submit this refunding plan to the
bondholders whom it now represents
for their approval and shall use rea-
sonable diligence In advising nom
~depositing bondholders Of this plan
for the purpose of securing the de-
post of their bonds with the Com
mittee and their consent to this plan.
The County shall assist the Commit
tee in obtaining names of the hold
ers OF the outstanding bonds Of the
County and shall supply the Commit
tee with such financial and other
knowledge, information or proofs
relative to the official affairs Of the
County as the Committee shall from
time to time request and shall CO.
operate with the Committee In Sc
curing the exchange of r%efunding
bonds for the bonds refunded. The
Committee and its duly appointed
depositary shall have complete sup
ervision over the exchange of the re-
funding bonds for the outstanding
bonds and shall serve as the inter
mediary for such exchange.
(12) The Committee shall pay for
the printing of the refunding bonds,
which printing shall be done by Bal
lentine Printing Company Of Mimi
eapolis, or such other printer as
shall be selected by the Committee;
and the County shall reimburse the
Committee for the expense Of print
ing the bonds, but the cost of print
ing said bonds shall not exceed the
sum Of Five Hundred Dollars ($5O0).
All expenses not provided for herein
to be paid by the County, shall be
paid by the COMMITTEE.
(13) Immediately upon execution
of this agreement the refunding plan
herein outlined shall be presented
for adopting to the entire Board OF
! County Commissioner Of the County
at a regular or special meeting OF
said Board, and following the adop-
ton Of this plan by resolution the
mittee in taking the required steps
to perfect such plan as provided by
said municipal refunding law, to-
wit: (a) publication OF a synopsis of
such plan in two issues of a news
paper of general circulation publish
ed in the County; OBJ filing a COM
plete and authenticated copy of the
plan or resolution embracing such
plan with the State Examiner for
the State Of Montana, together with
such other data or information as he
shall require, said filing to be made
within thirty days after the adop
ton of the aforesaid resolution by
the Board of County Commissioners.
(14) After the State Examiner has
approved, in accord with the pro-
visions of Section 3 of said munich
pal refunding law, the r%efunding
plan contemplated by this agree
ment, said plan shall become effec-
tive, when, in the Judgment OF the
Committee. a sufficient amount OF
outstanding bonds have been depoe-
tied with the Committee. When a
sufficient amount of bonds have
been go deposited, the Committee
shall notify in writing the County
Treasurer to the effect that 1t final
ly accepts said plan in behalf Of all
the bondholders represented by 1t,
whereupon the County shall ex-
change the refunding bonds for the
bonds then held by the Committee.
Said exchange shall be made at the
office OF the depositary of the Com
mittaa under the suDprvisiOn OF the