In Re Fort Cobb, Oklahoma, Irrigation Fuel Authority

FINDINGS OF FACT AND CONCLUSIONS OF LAW

EUBANKS, District Judge.

INTRODUCTION

On April 14, 1976, Fort Cobb, Oklahoma, Irrigation Fuel Authority (“Authority”) filed a petition under Chapter IX of the National Bankruptcy Act (11 U.S.C. § 401, et seq.), requesting relief pursuant thereto. On August 24, 1976, the Authority filed an amended petition.

On December 14, 1978, T. J. Raney & Sons, Inc. (“Raney”), a holder of 1969 Series A bonds and 1973 Series C bonds and the proposed class representative of the civil action styled, T. J. Raney & Sons, Inc. v. Fort Cobb, Oklahoma, Irrigation Fuel Authority,…