Montana § 90-6-116 Trust Indenture

Montana Statutes

§ 90-6-116 — Trust Indenture

Montana § 90-6-116

Title 90PLANNING, RESEARCH, AND DEVELOPMENT

Ch. 6COMMUNITY IMPACT -- PLANNING AND ABATEMENT

Part 1Financing of Housing

This text of Montana § 90-6-116 (Trust Indenture) 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. § 90-6-116 (2026).

Text

90-6-116 . Trust indenture.

(1)In the discretion of the board, the bonds may be secured by a trust indenture between the board and a corporate trustee, which may be a trust company or bank having the power of a trust company within or without the state. A trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders which are reasonable and proper and not in violation of law, including covenants setting forth the duties of the board in relation to the exercise of its powers and the custody, safeguarding, and application of all money. The board may provide by a trust indenture for the payment of the proceeds of the bonds and the revenues to the trustee under the trust indenture of another depository and for the method of disbursement, with s

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90-6-116 . Trust indenture. (1) In the discretion of the board, the bonds may be secured by a trust indenture between the board and a corporate trustee, which may be a trust company or bank having the power of a trust company within or without the state. A trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders which are reasonable and proper and not in violation of law, including covenants setting forth the duties of the board in relation to the exercise of its powers and the custody, safeguarding, and application of all money. The board may provide by a trust indenture for the payment of the proceeds of the bonds and the revenues to the trustee under the trust indenture of another depository and for the method of disbursement, with safeguards and restrictions it considers necessary.
(2) All expenditures incurred in carrying out a trust indenture may be treated as part of the operating expenditures of the board.