Montana Statutes
§ 17-5-1311 — State's Volume Cap And Reservations -- Department To Adopt Rule
Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 13 Montana Unified Volume Cap Bond Allocation Plan Act
17-5-1311 . State's volume cap and reservations -- department to adopt rule.
(1)For each calendar year, the state's volume cap is the amount specified by the department pursuant to subsection (2). In each calendar year, subject to the provisions established by 17-5-1312 and 17-5-1313 , 70% of the state's volume cap is the state portion and 30% is the local portion.
(2)The department shall adopt a rule for the state's volume cap specifying the maximum dollar value of cap bonds that may be issued in a calendar year. The rule adopted by the department must consider the volume cap.
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Legislative History
En. Sec. 3, Ch. 190, L. 1987; amd. Sec. 2, Ch. 32, L. 2001.
Nearby Sections
15
§ 17-5-1001
Action To Restrain Bond Issues§ 17-5-101
Definitions§ 17-5-105
Redemption Of Bonds -- Optional Method§ 17-5-106
Notice Of Public Bond Sale§ 17-5-108
Through 17-5-110 Reserved§ 17-5-1101
Short Title§ 17-5-1102
Definitions§ 17-5-1103
Declarations Of State Interest -- Purposes§ 17-5-1104
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Records -- No Public Inspection -- Locations