Montana Statutes
§ 7-7-124 — Limitation On Investment Of Sinking Funds
Montana·Title 7 LOCAL GOVERNMENT·Ch. 7 DEBT MANAGEMENT·Part 1 General Provisions Related to Local Governments
7-7-124 . Limitation on investment of sinking funds. If any of the bonds for which the sinking fund was established are not yet due but are then redeemable under optional provisions, the money in the sinking fund is not subject to investment but shall be used and applied in payment and redemption of the bonds.
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Legislative History
En. Sec. 1, Ch. 86, L. 1923; re-en. Sec. 4622.1, R.C.M. 1935; amd. Sec. 1, Ch. 37, L. 1939; amd. Sec. 1, Ch. 11, L. 1963; amd. Sec. 68, Ch. 348, L. 1974; R.C.M. 1947, 16-2001(part); amd. Sec. 2, Ch. 256, L. 1979.
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Repealed§ 7-7-102
Repealed§ 7-7-103
Repealed§ 7-7-109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