Montana § 7-12-2175 Investment Of Maintenance, Interest, And Sinking Fund Money

Montana Statutes

§ 7-12-2175 — Investment Of Maintenance, Interest, And Sinking Fund Money

Montana § 7-12-2175

Title 7LOCAL GOVERNMENT

Ch. 12IMPROVEMENT DISTRICTS

Part 21Rural Improvement Districts

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Bluebook

Mont. Code Ann. § 7-12-2175 (2026).

Text

7-12-2175 . Investment of maintenance, interest, and sinking fund money.

(1)The governing body of a county in which a special improvement district or maintenance district is located may invest maintenance, interest, and sinking fund money of the district in time deposits of a bank, savings and loan association, or credit union insured by the federal deposit insurance corporation or by the national credit union administration or invested in direct obligations of the United States government.

(2)Interest collected on the deposits or investments must be credited to the fund from which the money was withdrawn.

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7-12-2175 . Investment of maintenance, interest, and sinking fund money. (1) The governing body of a county in which a special improvement district or maintenance district is located may invest maintenance, interest, and sinking fund money of the district in time deposits of a bank, savings and loan association, or credit union insured by the federal deposit insurance corporation or by the national credit union administration or invested in direct obligations of the United States government.
(2) Interest collected on the deposits or investments must be credited to the fund from which the money was withdrawn.

Legislative History

En. Sec. 1, Ch. 45, L. 1965; R.C.M. 1947, 11-2288(part); amd. Sec. 1, Ch. 382, L. 1983; amd. Sec. 8, Ch. 421, L. 1985; amd. Sec. 13, Ch. 10, L. 1993; amd. Sec. 1, Ch. 101, L. 1993.