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

4-l-Z5 ...... Refunding 1854
NOTICE is FURTHER GIVEN
that the refunding bonds proposed
to be issued under said plan shall be
term bonds dated as OF January l.,
1888. Shall mature January /, 1854.
shall bear interest at the rate of 4%c
per annum for the first ten years and
at the rate of Sc per annum there
after. the interest to be payable semi
annually on the LIST days Of January
and July of each year; that said re-
funding bonds shall be redeemable
on any interest payment date at par
plus accrued interest, in accord with
the terms Of said municipal refund
ing law; that the principal and inter-
est payments on said refunding
bonds shall be provided for by the
levy OF annual taxes in sufficient
amounts for the payment OF interest
and the creation Of a sinking fund for
the payment OF principal, pursuant
to The terms of said plan and the pro-
visions of said municipal refunding
law, that tax levies, appropriations,
and orders for payment In accord
with the provisions OF said plan
have been made by the Board of
County Commissioners conditionally
upon said plans becoming finally
effective; that a copy of said plan
will be filed with the State Examiner
OF the State Of Montana for his ap
proval On or before the Is day of
May, 1885, Name date 80 days from
the day OF passage of resolution) /;
that communications with respect to
said refunding plan may be ad
dressed to the Board OF County Com
m~issioners, Sheridan County, Mon.
tana, or to Mr.. Stanley R. Manske,
Secretary OF a ~bondholders commit
tee under a Bondholders' Protective
Agreement dated August %, 1884,
at lilo Northwestern Bank Building,
Minneapolis, Minnesota.
NOTICE is FURTHER GIVEN
that the %refunding plan herein re-
ferred to Is, with some changes, the
same plan as was adopted by a reso
luton OF the Board of County Com.
missioners at a special meeting held
on October 81, 1884; that after the
passage OF said resolution of October
81, 1884, the refunding plan adopted
by said resolution was submitted to
the State Examiner of the State of
Montana, who recommended certain
changes to be made In said plan;
that among said recommendations
was included the recommendation
that the interest rate on the refund
ing bonds to he issued DE reduced
from 40 per annm for the first five
years and SO per annum thereafter
to 40 per annum for the first ten
years and SO per annum thereafter;
that the resolution Of which notice
is hereby given was passed In order
TO reaffirm said refunding plan as
modified by the aforesaid recon-
mendations of the State Examiner.
A. j. OLSON
Chairman OF the Board OF
County Commissioners of
Sheridan County. 36-2t
5. That a complete and authentic
ated copy OF this resolution shall be
filed in the office of the State Exam
liner OF the State of Montana within
thirty (30) days from the adoption
of this resolution, together with such
other data and information as he
shall require.
s. That the terms OF the proposed
debt readjustment and %refunding
plan as herein stated are adopted by
the Board in behalf of Sheridan
County, without reservation Of the
right to recall, revoke, change or
modify, in whole or in part, any Of
such terms, except by agreement be-
tween Sheridan County and said
committee or upon recommendations
OF the State Examiner and-or a Court
Of the United States.
Z. That the Board of County Conn
missioners. in behalf of Sheridan
County, does hereby affirm and rat
ify the terms OF the agreement here
inabove referred to, entered into on
the 2 DAY of April, 1895, by and be-
tween said county and said bond
holders committee, and the Board
hereby directs the County Treasurer
of said Sheridan County, or his sue
cessor, 20 effect the exchange of
bonds provided for in the above
paragraph ID of said plan when and
as said plan becomes finally effec-
1--WE Iuutl tnt PlOFioiObS VI oof
paragraph u).
(S). That the Board Of County
Commissioners, pursuant to tn
authority vested in them by said
municipal refunding law, hereby lev
les upon all the taxable property in
the County of Sheridan, State of
Montana, in addition to all other
taxes, taxes for the respective years
and for the respective amounts set
forth in paragraph ~ above for the
payment Of the interest and the prin-
cipal OF the refunding bonds to be is
sued under the refunding plan ap-
proved, adopted and accepted by
this resolution; provided, however,
that the levies herein made are con-
ditional upon said refunding plans
becoming finally effective in accord
ance with the provisions OF para
graph O) above, but when such reso-
luton becomes finally effective as
provided in said paragraph ID, this
resolution shall operate and have the
full force and effect Of tax ~levies,
and orders therefor, as provided for
in said paragraph(f)for the amounts
and in the years therein stated,
whether or not this Board or any
subsequent Board OF County Com
missioners for Sheridan County,
a formal levy and order OF
taxes for the purpose OF paying the
PRINCIPAL and interest of the refund