Montana § 7-7-2251 Form Of Notice Of Sale Of Bonds

Montana Statutes

§ 7-7-2251 — Form Of Notice Of Sale Of Bonds

Montana·Title 7 LOCAL GOVERNMENT·Ch. 7 DEBT MANAGEMENT·Part 22 County General Obligation Bonds

7-7-2251 . Form of notice of sale of bonds.

(1)If a county conducts a public sale, the notice of sale must state the purpose or purposes for which the bonds are to be issued and the amount proposed to be issued for each purpose and must be substantially in the following form: Notice is hereby given by the board of county commissioners of.... County, state of Montana, that the board will on the.... day of...., ...., at the hour of.... ....m., at the office of the board in the courthouse in the (town or city) of.... in the said county, sell to the highest and best bidder for cash general obligation bonds of the county in the principal amount of.... dollars ($....) for the purpose of..... The bonds will be issued and sold in the aggregate principal amount of.... dollars ($....) and will beco

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7-7-2251 . Form of notice of sale of bonds. (1) If a county conducts a public sale, the notice of sale must state the purpose or purposes for which the bonds are to be issued and the amount proposed to be issued for each purpose and must be substantially in the following form:
Notice is hereby given by the board of county commissioners of.... County, state of Montana, that the board will on the.... day of...., ...., at the hour of.... ....m., at the office of the board in the courthouse in the (town or city) of.... in the said county, sell to the highest and best bidder for cash general obligation bonds of the county in the principal amount of.... dollars ($....) for the purpose of.....
The bonds will be issued and sold in the aggregate principal amount of.... dollars ($....) and will become payable according to the maturity schedule set forth below (set forth maturity schedule adopted by the board of county commissioners). (If the bonds are to be issued as amortization bonds, indicate that here.)
The bonds will bear an original issue date of...., ...., will pay interest commencing on the.... day of.... (month), ...., will be payable semiannually on the.... day of.... (month) and.... (month) in each year thereafter, and will be redeemable in full (here insert the optional provisions, if any, to be recited in the bonds).
The bonds will be sold for not less than $...., with accrued interest on the principal amount of the bonds to date of delivery, and all bidders shall state the lowest rate or rates of interest at which they will purchase the bonds at the purchase price specified for the bonds. (An interest rate may not exceed ....% a year.) The board reserves the right to reject any and all bids and to sell the bonds at private sale.
All bids must be accompanied by (insert appropriate bid security as permitted by 18-1-202 ) in the sum of.... dollars ($....), payable to the order of the clerk, which will be forfeited by the successful bidder in the event that the bidder fails or refuses to complete the purchase of the bonds in accordance with the terms of the bid.
All bids must be addressed to the board of county commissioners and delivered to the county clerk.
(Presiding officer, Board of County Commissioners)
of............ County, Montana .................
(2) The form of notice required under this section may be modified to accommodate changes necessary to issue citizen bonds pursuant to 7-7-2212 through 7-7-2215 .

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Legislative History

En. Sec. 15, Ch. 188, L. 1931; re-en. Sec. 4630.15, R.C.M. 1935; amd. Sec. 100, Ch. 326, L. 1974; R.C.M. 1947, 16-2029; amd. Sec. 1, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 2, Ch. 631, L. 1983; amd. Sec. 8, Ch. 559, L. 1993; amd. Sec. 5, Ch. 423, L. 1995; amd. Sec. 4, Ch. 253, L. 2011.