Montana § 7-7-4201 Limitation On Amount Of Bonded Indebtedness

Montana Statutes

§ 7-7-4201 — Limitation On Amount Of Bonded Indebtedness

Montana § 7-7-4201

Title 7LOCAL GOVERNMENT

Ch. 7DEBT MANAGEMENT

Part 42Municipal General Obligation Bonds

This text of Montana § 7-7-4201 (Limitation On Amount Of Bonded Indebtedness) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 7-7-4201 (2026).

Text

7-7-4201 . Limitation on amount of bonded indebtedness.

(1)Except as provided in 7-7-4202 , a city or town may not issue bonds or incur other indebtedness for any purpose in an amount that with all outstanding and unpaid indebtedness exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111 , within the city or town, 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.

(3)The limitation in subsection (1) does not apply to bonds issued for the repayment of tax protests lost by the city or town.

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7-7-4201 . Limitation on amount of bonded indebtedness. (1) Except as provided in 7-7-4202 , a city or town may not issue bonds or incur other indebtedness for any purpose in an amount that with all outstanding and unpaid indebtedness exceeds 2.5% of the total assessed value of taxable property, determined as provided in 15-8-111 , within the city or town, 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.
(3) The limitation in subsection (1) does not apply to bonds issued for the repayment of tax protests lost by the city or town.

Legislative History

En. Sec. 3, Ch. 160, L. 1931; re-en. Sec. 5278.3, R.C.M. 1935; amd. Sec. 1, Ch. 116, L. 1951; amd. Sec. 2, Ch. 34, L. 1955; amd. Sec. 1, Ch. 33, L. 1973; amd. Sec. 30, Ch. 566, L. 1977; R.C.M. 1947, 11-2303; amd. Sec. 2, Ch. 617, L. 1979; amd. Sec. 47, Ch. 614, L. 1981; amd. Sec. 11, Ch. 213, L. 1989; amd. Sec. 13, Ch. 570, L. 1995; amd. Sec. 25, Ch. 426, L. 1999; amd. Sec. 20, Ch. 556, L. 1999; amd. Sec. 10, Ch. 29, L. 2001; amd. Sec. 3, Ch. 187, L. 2007.