Montana Statutes
§ 7-7-108 — Authorization For Additional Indebtedness For Water Or Sewer Systems
Montana·Title 7 LOCAL GOVERNMENT·Ch. 7 DEBT MANAGEMENT·Part 1 General Provisions Related to Local Governments
7-7-108 . Authorization for additional indebtedness for water or sewer systems.
(1)For the purpose of constructing a sewer system or procuring a water supply or constructing or acquiring a water system for a city-county consolidated government that owns and controls the water supply and water system and devotes the revenue from the supply and system to the payment of the debt, a city-county consolidated government may incur an additional indebtedness by borrowing money or issuing bonds.
(2)The additional indebtedness that may be incurred by borrowing money or issuing bonds for the construction of a sewer system or for the procurement of a water supply or for both purposes may not in the aggregate exceed 10% over and above the debt limitation referred to in 7-7-107 .
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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. 44, Ch. 614, L. 1981; amd. Sec. 4, Ch. 285, L. 1999; amd. Sec. 6, 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Repealed§ 7-7-102
Repealed§ 7-7-103
Repealed§ 7-7-109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