Montana § 7-12-4207 Investment Of Interest And Sinking Fund Money

Montana Statutes

§ 7-12-4207 — Investment Of Interest And Sinking Fund Money

Montana § 7-12-4207

Title 7LOCAL GOVERNMENT

Ch. 12IMPROVEMENT DISTRICTS

Part 42Special Improvement Districts Continued

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Bluebook

Mont. Code Ann. § 7-12-4207 (2026).

Text

7-12-4207 . Investment of interest and sinking fund money.

(1)The governing body of a city in which a special improvement district is located may invest 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 payable within 180 days from the time of investment.

(2)All interest collected on deposits or investments must be credited to the sinking fund from which the money was withdrawn.

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7-12-4207 . Investment of interest and sinking fund money. (1) The governing body of a city in which a special improvement district is located may invest 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 payable within 180 days from the time of investment.
(2) All interest collected on deposits or investments must be credited to the sinking fund from which the money was withdrawn.