Montana Statutes
§ 17-5-702 — Purpose And Intent
Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 7 Coal Severance Tax Bonds -- Water Development
17-5-702 . Purpose and intent.
(1)The purpose of the coal severance tax trust fund bond provisions of this part is to establish the authority to issue and sell coal severance tax bonds that have been approved by an act of the legislature for financing specific renewable resource projects in the state authorized by the legislature and to guarantee redemption of the bonds by revenue derived from the receipts from the coal severance tax imposed by Title 15, chapter 35, part 1, and other money that the legislature may from time to time determine.
(2)The legislature intends that projects to be financed by coal severance tax bonds include renewable resource projects as part of the program established in Title 85, chapter 1, part 6. The legislature further intends that the income from renewable
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Legislative History
En. Sec. 25, Ch. 505, L. 1981; amd. Sec. 17, Ch. 298, L. 1983; amd. Sec. 6, Ch. 478, L. 1993; amd. Sec. 6, Ch. 432, L. 2007.
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
Construction§ 17-5-1105
Applicability -- Election -- Rescission§ 17-5-1106
Records -- No Public Inspection -- Locations