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

lore made Tor sinking fund purposes
the sum OF $40, 100 for payment OF In
terest coupons on said refundinl
bonds which shall be due July /, 1885
and January l, 1896.
(g) After December LIST, 1884 the
legal portion OF all receipts from
the collection of general county tax
es levied for the year 1888 and years
prior thereto (wThether or not the time
OF payment thereof has been or shall
be extended) shall at the end Of
each twelve month period beginning
December LIST OF each year be Sc,
aside into the sinking fund for the
service Of the refunding bonds anC
used first, to make up any delinQuen
cies In the collection during such
period OF taxes levied for the pay
ment OF interest, and thereafter fol-
the payment Of principal on the 70
funding bonds In the manner herein
provided. No deduction shall be
made on the required tax levy Of the
succeeding years for the amount OF
interest paid or bonds retired from
said sinking fund from such delin.
Quent tax collections.
(h) II at any time prior to January
l, 1916 the County shall increase Its
annual appropriation for mainten.
ance and operating expenses to an
amount In excess OF $225, 900. 90, then
there shall be levied an additional
amount for the retirement OF re-
funding bonds equal to 1870 OF such
excess.
ID After the State Examiner has
approved, in accord with the pro-
visions of said municipal refunding
law, said plan shall become effec-
tive when in the Judgment Ut the
committee, a sufficient amount of
outstanding bonds have been depos-
tied with the committee. When a
sufficient amount of bonds have
been so deposited, the committee
shall notify in writing the County
Treasurer to the effect that it final
ly accepts said plan in behalf Of the
represented by It,,
lwhereupon the County shall ex-
change the ~refunding bonds for the
bonds then held by the Committee.
Said exchange shall be made ut the
office OF the depository of the Com
mittee under the supervision of the
and the duly designated
officers Of the County. In no event,
except with the consent of the
County, shall the Committee finally
accept said %refunding plan as afore-
said until the same has been con-
sented to by the holders of 1870 Of
the outstanding bonds Of the Coun-
ty, exclusive of bonds held by the
County itself. If the County shall
file a petition In the United States
District Court pursuant to the pro
visions OF Chapter TX Of the Federal
Act, then the effective
date of the refunding plan provided
in this agreement shall be subject to
the decree of said court. II any such
petition shall be filed in said District
then this plan shall be filed
Herewith as the plan Of readjust-
ment between the County and IT'S
Ibondholders. Such a petition shall
he filed upon the request Of the
Committee.
Cd AS SOC as the debt readjust-
ment plan becomes finally effective
as provided in paragraph U). i'm
above, the County shall
pay to the Northwestern National
Bank and Trust Company of Mimi
eapolis, the depositary under said
Bondholders' Protective Agreement,
all interest accrued to January /,
1885 upon the bonds held by the
Committee. All interest accrued to
January l, 1885 shall be computed at
the rates specified In the respective
Upon such payments, there
shall be surrendered to the County
such coupons Is are paid in full, and
In cases OF payment of interest &C
crued after bond maturities and par
tial payment OF interest coupons, the
shall tender bonds and
coupons for the purpose OF having
payment OF interest Endorsed there
IN
(k) The Committee shall proceed
to submit this refunding plan to the
whom 1t now represents
for their approval and shall s
reasonable diligence in advising non
bondholders OF this plan
for the purpose Of securing the de-
post of their bonds with the COM
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 Com
with such financial and other
information or proofs
relative to the official affairs Of the
County as the Committee shall from
to time request and shall CO.
operate with the Committee in Sc
the exchange Of refunding
for the bonds refunded. The
and its duly appointed
shall have complete sup
ervision over the exchange of the
bonds and shall serve as
the Intermediary for such exchange.
Q) The Committee shall pay for
the printing of the rounding bonds,
which printing shall be done by the
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 print
ing the bonds, but he cost Of print
ing said bones SD IL not exceed the
sum OF Five Hundred Dol. ars
($500). All expenses not provided
Tor herein to be pad by the County
shall be paid by the Committee.
(m) Any Member OF the Commit
tee and any firm or corporation OF
which such committee member may