Montana § 7-7-4255 Form And Execution Of Bonds

Montana Statutes

§ 7-7-4255 — Form And Execution Of Bonds

Montana·Title 7 LOCAL GOVERNMENT·Ch. 7 DEBT MANAGEMENT·Part 42 Municipal General Obligation Bonds

7-7-4255 . Form and execution of bonds.

(1)At the time of the sale of the bonds or at a meeting held after the sale, the city or town council shall adopt a resolution providing for the issuance of the bonds, prescribing the form of the bonds, whether amortization or serial bonds, providing the manner of execution of the bonds, and if applicable, specifying whether the bonds are tax credit bonds as provided in 17-5-117 , recovery zone economic development bonds or recovery zone facility bonds as provided in 7-7-140 , or qualified energy conservation bonds as provided in 7-7-141 .

(2)Each bond and each coupon attached to a bond must be signed by or bear the facsimile signatures of the mayor and the treasurer of the city or town and must be attested by the city or town clerk, provided that

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7-7-4255 . Form and execution of bonds. (1) At the time of the sale of the bonds or at a meeting held after the sale, the city or town council shall adopt a resolution providing for the issuance of the bonds, prescribing the form of the bonds, whether amortization or serial bonds, providing the manner of execution of the bonds, and if applicable, specifying whether the bonds are tax credit bonds as provided in 17-5-117 , recovery zone economic development bonds or recovery zone facility bonds as provided in 7-7-140 , or qualified energy conservation bonds as provided in 7-7-141 .
(2) Each bond and each coupon attached to a bond must be signed by or bear the facsimile signatures of the mayor and the treasurer of the city or town and must be attested by the city or town clerk, provided that one signature of a city or town official or the bond registrar must be a manual signature. Each bond may have the city or town seal or its facsimile imprinted on the bond.

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Legislative History

En. Sec. 16, Ch. 160, L. 1931; re-en. Sec. 5278.16, R.C.M. 1935; amd. Sec. 6, Ch. 260, L. 1959; R.C.M. 1947, 11-2316; amd. Sec. 22, Ch. 423, L. 1995; amd. Sec. 4, Ch. 489, L. 2009.