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


crease its annual appropriation fo,. 4
maintenance and operating expene !
es to an amount in excess of S225
600 then there shall be levied On
additional amount for the retire /
ment of refunding bonds esuaI 70
1870 of such excess.
(i) After the State Examine
has approved, in accord with the
provisions of said municinaI 70
funding law, said plan shall he
come effective when. in the Judo
ment of the committee, a sufficien+
amount of outstanding bonds have
been deposited with the COMMITTEES
When a sufficient amount of bonds
have been so deposited. the com
mittee shall notify in writing the
county treasurer to the effect that
it finally accepts said plan in he
half of the bondholders represent
ed by it, whereup the county shall
exchange the refunding bonds for
the bonds then held bv the com
mittee. Said exchange shall be
made at the office of the denos-
itary of the committee under the
supervision Of the committee ond
the duly designated officers Of tho
county In no event, excent with
the consent of the county shall
the committee finally accent said
refunding plan as aforesaid until
the same has been consented -
by the holders of 1870 of the ont
standing bonds of the county. ex-
elusive of bonds held by the coun-
ty itself. If the county shall file
a petition in the United States
district court pursuant to the pro-
visions of Chaper TX of the Fed
eral Bankruptcy Act, then the eff
fective date of the refunding plan
provided in this agreement shall
be subject to the decree of said
court. If any such petition shall
be filed in said district court. then
this plan shall be filed Herewith
as the plan of readiustment be-
tween the county and it's bond
holders. Such a petition shall be
filed upon the request of the COM
mittee.
I'D AS soon as the debt read
justment plan becomes finally eff
fective as provided in paragraph
ID, Immediately above, the county
shall pay to the Northwestern Ma
tional Bank and Trust COMPANY Of
Minneapolis, the depositary under
said Bondholders' Protective Ag-
reement, all interest accrued to
January 1, 1885, upon the bonds
held by the committee. All inter
est accrued to January 1, 1885,
shall be computed at the rates
specified in the respective bonds.
Upon such payments there shall
be surrendered to the county such
coupons as are paid in full. and
in cases of payment of interest
accrued after bond maturities and
partial payment of interest cou-
pons, the committee shall tender
bonds and coupons for the purpose
of having payment of interest in
dorsed thereon.
I (k) The committee shall pro-
coed to submit this refunding plan
to the bondholders whom it now
represents for their approval and
srall 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 OBJ
tanning names of the holders oil
the outstanding bonds of the coun
ty and shall supply the committee
with such financial and other know
ledge, information or proofs rela
tive 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 refundins
: bonds for the bonds refunded. Tn,
committee and it's duly appointet
> depositary shall have complet
supervision over the exchange o
; the refunding bonds and shal
, serve as the Intermediary for sue
exchange.
Cd The committee shall pay TO
! the printing of the refundin
? bonds, which printing shall b
done by the Ballentine Printin
r Company of Minneapolis, or sue
other printer as shall be selecte
by the committee; and the count
: shall reimburse the committee fo
+ the expense of printing the bond
D but the cost of printing said bond
e shall not exceed the sum of Fiy
!. Hundred Dollars ($5OO). All e.
penses not provided for herein t
r be paid by the county shall
\ paid by the committee.
r (m) Any member of the commit
$ tee and any firm or corporate
< of which such committee membe
r may ge a member, official or en-
r ployee, and the committees depoi
: itaries, their officers and agent
Z may be holders or owners of an
bonds refunded pursuant to tt