Montana § 17-5-807 Limitations On General Obligation Bonds And Bond Anticipation Notes

Montana Statutes

§ 17-5-807 — Limitations On General Obligation Bonds And Bond Anticipation Notes

Montana § 17-5-807

Title 17STATE FINANCE

Ch. 5PUBLIC BOND ISSUES

Part 8General Obligation Bonds and Notes

This text of Montana § 17-5-807 (Limitations On General Obligation Bonds And Bond Anticipation Notes) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 17-5-807 (2026).

Text

17-5-807 . Limitations on general obligation bonds and bond anticipation notes.

(1)Bonds and bond anticipation notes may not be issued for information technology acquisitions, including hardware or software, for a period longer than the estimated useful life of the asset.

(2)The chief information officer, as defined in 2-17-506 , shall estimate the useful life of the asset for the proposed information technology purchase and provide this information for inclusion prior to the department determining the appropriate financing method, as described in 2-17-512 (1)(g).

(3)Whenever the department determines that the purchase of information technology hardware or software must be expensed in accordance with state accounting policy, general obligation bonds may not be issued for the purchase.

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17-5-807 . Limitations on general obligation bonds and bond anticipation notes. (1) Bonds and bond anticipation notes may not be issued for information technology acquisitions, including hardware or software, for a period longer than the estimated useful life of the asset.
(2) The chief information officer, as defined in 2-17-506 , shall estimate the useful life of the asset for the proposed information technology purchase and provide this information for inclusion prior to the department determining the appropriate financing method, as described in 2-17-512 (1)(g).
(3) Whenever the department determines that the purchase of information technology hardware or software must be expensed in accordance with state accounting policy, general obligation bonds may not be issued for the purchase.