Montana § 90-4-1205 Authority To Issue Revenue Bonds

Montana Statutes

§ 90-4-1205 — Authority To Issue Revenue Bonds

Montana § 90-4-1205

Title 90PLANNING, RESEARCH, AND DEVELOPMENT

Ch. 4ENERGY DEVELOPMENT AND CONSERVATION

Part 12Montana Clean Renewable Energy Bond Act

This text of Montana § 90-4-1205 (Authority To Issue Revenue Bonds) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 90-4-1205 (2026).

Text

90-4-1205 . Authority to issue revenue bonds.

(1)Except as provided in 90-4-1221 , a governmental body may:

(a)issue revenue bonds to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, or extension of any project;

(b)pledge to the punctual payment of its revenue bonds issued under this section and interest on the bonds all or a portion of the gross or net revenue of the project; and

(c)create and maintain reasonable reserves.

(2)The revenue bonds provided for in subsection (1) may be authorized by a resolution adopted by the governing authority of the governmental body. The resolution must establish the terms, covenants, and conditions of the revenue bonds. It is not necessary to submit the question of issuing the revenue bond

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90-4-1205 . Authority to issue revenue bonds. (1) Except as provided in 90-4-1221 , a governmental body may:
(a) issue revenue bonds to finance in whole or in part the cost of the acquisition, purchase, construction, reconstruction, improvement, or extension of any project;
(b) pledge to the punctual payment of its revenue bonds issued under this section and interest on the bonds all or a portion of the gross or net revenue of the project; and
(c) create and maintain reasonable reserves.
(2) The revenue bonds provided for in subsection (1) may be authorized by a resolution adopted by the governing authority of the governmental body. The resolution must establish the terms, covenants, and conditions of the revenue bonds. It is not necessary to submit the question of issuing the revenue bonds to the electors of the governmental body. The revenue bonds do not constitute indebtedness for the purpose of statutory debt limitations.
(3) The revenue of the project must include the charges for energy used or reserved for use by the governmental body, which may be made payable from its general fund or other available revenue, and the revenue generated from the sale of energy or capacity to third parties.