Montana § 17-5-1312 Allocation To State Issuers

Montana Statutes

§ 17-5-1312 — Allocation To State Issuers

Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 13 Montana Unified Volume Cap Bond Allocation Plan Act

17-5-1312 . Allocation to state issuers.

(1)Except as provided in subsection (3), the state portion must be allocated to state issuers pursuant to 17-5-1316 .

(2)As a condition of receiving an allocation, each state issuer:

(a)on issuance of the bonds, shall pay 35 cents per thousand of bonds to be deposited in the state general fund for the purpose of funding a portion of the annual comprehensive financial report audit; and

(b)shall provide the legislative auditor with full access to its financial records.

(3)Through the first Monday in September, allocations of the state portion must be made by the department to state issuers pursuant to 17-5-1316 . After the first Monday in September, the state portion expires and any unallocated and unused state portion remaining must be allocated

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17-5-1312 . Allocation to state issuers. (1) Except as provided in subsection (3), the state portion must be allocated to state issuers pursuant to 17-5-1316 .
(2) As a condition of receiving an allocation, each state issuer:
(a) on issuance of the bonds, shall pay 35 cents per thousand of bonds to be deposited in the state general fund for the purpose of funding a portion of the annual comprehensive financial report audit; and
(b) shall provide the legislative auditor with full access to its financial records.
(3) Through the first Monday in September, allocations of the state portion must be made by the department to state issuers pursuant to 17-5-1316 . After the first Monday in September, the state portion expires and any unallocated and unused state portion remaining must be allocated by the department as the state's volume cap to issuers pursuant to 17-5-1316 without preference.

Montana § 17-5-1312 (Allocation To State Issuers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

En. Sec. 4, Ch. 190, L. 1987; amd. Sec. 2, Ch. 168, L. 1991; amd. Sec. 3, Ch. 32, L. 2001; amd. Sec. 3, Ch. 137, L. 2001; amd. Sec. 2, Ch. 341, L. 2009; amd. Sec. 3, Ch. 58, L. 2023.