Thursday, April 2, 2009

The Original UEP Trust

Leroy S Johnson Sept 3, 1978 Vol 4. Page 1661

"We are trying to get a sewer system in our community, and in order to do so, we have to give a bond on the land that the sewer goes over. We have refused to give a bond to a loaning agency such as the Farmers Home, a government agency. We went to our lawyers to see what we could do about it. So they said this. We will call some of the agencies around -- bonding insurance agencies. They called three or four agents in the state and they said, We won't touch anything that belongs to the United Effort Plan because the United Effort Plan is a trust-- an old--line trust; it cannot be sued. So, we couldn't sue these people if they were to fall down on their payments; they couldn't be sued for the remaining money."

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