Montana Statutes
§ 7-3-1321 — Authorization To Incur Indebtedness -- Limitation
Montana·Title 7 LOCAL GOVERNMENT·Ch. 3 ALTERNATIVE FORMS OF LOCAL GOVERNMENT·Part 13 City-County Consolidation -- Option 2 Continued
7-3-1321 . Authorization to incur indebtedness -- limitation.
(1)The consolidated municipality may borrow money or issue bonds for any municipal purpose to the extent and in the manner provided by the constitution and laws of Montana for the borrowing of money or issuing of bonds by counties and cities and towns.
(2)The municipality may not become indebted in any manner or for any purpose to an amount, including existing indebtedness, in the aggregate that exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111 , within the municipality, as ascertained by the last assessment for state and county taxes prior to incurring indebtedness. All warrants, bonds, or obligations in excess of the amount given by or on behalf of the municipality are void.
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Legislative History
En. Secs. 72, 73, Ch. 121, L. 1923; re-en. Secs. 5520.73, 5520.74, R.C.M. 1935; R.C.M. 1947, 11-3513, 11-3514; amd. Sec. 39, Ch. 614, L. 1981; amd. Sec. 2, Ch. 29, L. 2001; amd. Sec. 1, Ch. 187, L. 2007.
Nearby Sections
15
§ 7-3-101
Compliance With Constitution§ 7-3-102
Adoption Of Alternative Form§ 7-3-105
Plan Of Government§ 7-3-106
Effect Of Change In Government§ 7-3-107
Through 7-3-110 Reserved§ 7-3-1101
City-County Consolidation Authorized§ 7-3-1102
Plan Of Consolidation§ 7-3-1103
Effect Of Consolidation