Montana § 90-6-122 Refunding Obligations -- Sale

Montana Statutes

§ 90-6-122 — Refunding Obligations -- Sale

Montana § 90-6-122

Title 90PLANNING, RESEARCH, AND DEVELOPMENT

Ch. 6COMMUNITY IMPACT -- PLANNING AND ABATEMENT

Part 1Financing of Housing

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Bluebook

Mont. Code Ann. § 90-6-122 (2026).

Text

90-6-122 . Refunding obligations -- sale. Refunding obligations issued as provided in 90-6-121 may be sold or exchanged for outstanding obligations issued under this part. The proceeds may be applied to the purchase, redemption, or payment of outstanding obligations. Pending the application of the proceeds of refunding obligations, with other available funds, to the payment of principal, accrued interest, and any redemption premium on the obligations being refunded and, if permitted in the resolution authorizing the issuance of the refunding obligations or in the trust agreement securing them, to the payment of interest on refunding obligations and expenses in connection with refunding, the proceeds may be invested as provided in Title 17, chapter 6.

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90-6-122 . Refunding obligations -- sale. Refunding obligations issued as provided in 90-6-121 may be sold or exchanged for outstanding obligations issued under this part. The proceeds may be applied to the purchase, redemption, or payment of outstanding obligations. Pending the application of the proceeds of refunding obligations, with other available funds, to the payment of principal, accrued interest, and any redemption premium on the obligations being refunded and, if permitted in the resolution authorizing the issuance of the refunding obligations or in the trust agreement securing them, to the payment of interest on refunding obligations and expenses in connection with refunding, the proceeds may be invested as provided in Title 17, chapter 6.