Montana § 7-6-4011 Use Of Bond Proceeds And Borrowed Money

Montana Statutes

§ 7-6-4011 — Use Of Bond Proceeds And Borrowed Money

Montana § 7-6-4011

Title 7LOCAL GOVERNMENT

Ch. 6FINANCIAL ADMINISTRATION AND TAXATION

Part 40Local Government Budget Act

This text of Montana § 7-6-4011 (Use Of Bond Proceeds And Borrowed Money) 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. § 7-6-4011 (2026).

Text

7-6-4011 . Use of bond proceeds and borrowed money.

(1)Except as otherwise provided by law, money borrowed by a local government may be used only for the purpose for which the money was borrowed. Unless restricted by law, surplus borrowed money may be used to redeem the debt for which the money was borrowed.

(2)The authorization of bonds by the electors or the governing body constitutes the appropriation of the bond proceeds for the purpose for which the bonds are authorized.

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7-6-4011 . Use of bond proceeds and borrowed money. (1) Except as otherwise provided by law, money borrowed by a local government may be used only for the purpose for which the money was borrowed. Unless restricted by law, surplus borrowed money may be used to redeem the debt for which the money was borrowed.
(2) The authorization of bonds by the electors or the governing body constitutes the appropriation of the bond proceeds for the purpose for which the bonds are authorized.