Montana Statutes
§ 7-7-107 — Limitation On Amount Of Bonds For City-County Consolidated Units
Montana·Title 7 LOCAL GOVERNMENT·Ch. 7 DEBT MANAGEMENT·Part 1 General Provisions Related to Local Governments
7-7-107 . Limitation on amount of bonds for city-county consolidated units.
(1)Except as provided in 7-7-108 , a city-county consolidated local government may not issue bonds for any purpose in an amount that, with all outstanding indebtedness, exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111 , within the consolidated government, as ascertained by the last assessment for state and county taxes.
(2)The issuing of bonds for the purpose of funding or refunding outstanding warrants or bonds is not the incurring of a new or additional indebtedness but is merely the changing of the evidence of outstanding indebtedness.
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Legislative History
En. 16-2010.1 by Sec. 1, Ch. 175, L. 1975; amd. Sec. 39, Ch. 566, L. 1977; R.C.M. 1947, 16-2010.1(part); amd. Sec. 43, Ch. 614, L. 1981; amd. Sec. 3, Ch. 285, L. 1999; amd. Sec. 22, Ch. 426, L. 1999; amd. Sec. 17, Ch. 556, L. 1999; amd. Sec. 5, Ch. 29, L. 2001.
Nearby Sections
15
§ 7-7-101
Repealed§ 7-7-102
Repealed§ 7-7-103
Repealed§ 7-7-109
Definitions -- Sale Of Notes In Anticipation Of Federal Or State Revenue Or Issuance Of Bonds§ 7-7-110
Authorization Of Bonds§ 7-7-111
Bond Election -- Impact On Value§ 7-7-112
Through 7-7-120 Reserved§ 7-7-121
Misconduct In Relation To Bond Funds§ 7-7-122
Prosecution For Misconduct