Montana § 17-6-225 Loans To Petroleum Tank Release Compensation Board

Montana Statutes

§ 17-6-225 — Loans To Petroleum Tank Release Compensation Board

Montana·Title 17 STATE FINANCE·Ch. 6 DEPOSITS AND INVESTMENTS·Part 2 Investments

17-6-225 . Loans to petroleum tank release compensation board.

(1)The board of investments may loan funds to the petroleum tank release compensation board to cover temporary cash shortfalls. The total of all loans may not exceed the greater of $15 million or 80% of the fees that the office of budget and program planning projects will be collected under 75-11-314 during the next 3 fiscal years. A loan must be amortized, based on projected fee revenue, over a period of not more than 10 years.

(2)The board shall establish the interest rate on the loan, considering the security and the term of the loan.

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17-6-225 . Loans to petroleum tank release compensation board. (1) The board of investments may loan funds to the petroleum tank release compensation board to cover temporary cash shortfalls. The total of all loans may not exceed the greater of $15 million or 80% of the fees that the office of budget and program planning projects will be collected under 75-11-314 during the next 3 fiscal years. A loan must be amortized, based on projected fee revenue, over a period of not more than 10 years.
(2) The board shall establish the interest rate on the loan, considering the security and the term of the loan.

Montana § 17-6-225 (Loans To Petroleum Tank Release Compensation Board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.