Montana Statutes
§ 17-5-711 — Trust Indenture
Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 7 Coal Severance Tax Bonds -- Water Development
17-5-711 . Trust indenture. In the discretion of the board of examiners, a series of bonds or notes issued under this part may be secured by a trust indenture by and between the board of examiners and a trustee, which may be any trust company or bank having the powers of a trust company within or outside of the state. Each trust indenture or an executed counterpart thereof shall be filed in the office of the secretary of state of Montana. The filing of a trust indenture or an executed counterpart thereof in the office of the county clerk of the county in which the property covered by the trust indenture is located is constructive notice of its contents to all persons from the time of the filing, and the recording of the trust indenture or its contents is not necessary.
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Legislative History
En. Sec. 34, Ch. 505, L. 1981; amd. Sec. 3, Ch. 512, L. 1985.
Nearby Sections
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§ 17-5-1001
Action To Restrain Bond Issues§ 17-5-101
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Redemption Of Bonds -- Optional Method§ 17-5-106
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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