Montana Statutes
§ 17-5-1612 — Specific Loan Authorization
17-5-1612 . Specific loan authorization. The legislature intends that individual state agencies may borrow from the program established in this part, as specifically authorized by the legislature under the following conditions:
(1)A loan for which the security is an enterprise or internal service fund source may be approved by a simple majority vote of the legislature.
(2)A loan for which the security is a general fund appropriation, a general fund revenue source, or any type of tax or fee imposed by the legislature must be approved by a two-thirds vote of the members of each house of the legislature and must include language authorizing the creation of a state debt under Article VIII, section 8, of the Montana constitution.
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Legislative History
En. Sec. 1, Ch. 399, L. 2005.
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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Applicability -- Election -- Rescission§ 17-5-1106
Records -- No Public Inspection -- Locations