Water Resources Survey, Rosebud County, Montana 1948 Part 1
Water Resources Survey, Rosebud County, Montana 1948 Part 1
Montana.State Engineer
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This, nj doubt, will be a matter for legal determina- tion at some future date. During the first World War, in about 1918, through negotiations with the bondholders, $15,000,00 worth of bonds were canceled from the original debt. In 1926 the District irrigable lands Wk^re re-classified, and as a result the assessed acreage was changed from 12,387.63 acres to 8,043.58 acres. After the re-classification in 1927 the Court authorized a refunding bond issue, but the District never made the issue. No... monies were paid by the District on the original bonds up to 1934. The total indebtedness of the District in 1934 was $320,000.00. Through a compromise between the bondholders hold- ing $316,000.00 of bonds and the District, this amount was reduced to $157,996.84. The District obtained a loan from the R. F. C. for this amount to pay off the bondholders. All of ths original bonds were paid off except bonds in the amount of $4,000.00. These bonds were later forced in by Federal Court proceedings on the basis of .49999 cents on the dollar.
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