Montana § 7-7-4261 Maintenance Of Accounts For Bond Issues

Montana Statutes

§ 7-7-4261 — Maintenance Of Accounts For Bond Issues

Montana § 7-7-4261

Title 7LOCAL GOVERNMENT

Ch. 7DEBT MANAGEMENT

Part 42Municipal General Obligation Bonds

This text of Montana § 7-7-4261 (Maintenance Of Accounts For Bond Issues) 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. § 7-7-4261 (2026).

Text

7-7-4261 . Maintenance of accounts for bond issues.

(1)The city treasurer or town clerk shall keep in the treasurer's or clerk's books a special and separate sinking fund account for each issue or series of outstanding bonds, including citizen bonds as provided in 7-7-4211 through 7-7-4214 , issued by the city or town. Each fund must at all times show the exact condition of the fund.

(2)All taxes collected for interest and principal on city or town bonds must be placed to the credit of the sinking fund for which the taxes were levied.

(3)The sinking fund must be administered as provided in 7-7-123 , 7-7-124 , and 7-7-4270 .

Free access — add to your briefcase to read the full text and ask questions with AI

7-7-4261 . Maintenance of accounts for bond issues. (1) The city treasurer or town clerk shall keep in the treasurer's or clerk's books a special and separate sinking fund account for each issue or series of outstanding bonds, including citizen bonds as provided in 7-7-4211 through 7-7-4214 , issued by the city or town. Each fund must at all times show the exact condition of the fund.
(2) All taxes collected for interest and principal on city or town bonds must be placed to the credit of the sinking fund for which the taxes were levied.
(3) The sinking fund must be administered as provided in 7-7-123 , 7-7-124 , and 7-7-4270 .

Legislative History

En. Sec. 24, Ch. 160, L. 1931; re-en. Sec. 5278.24, R.C.M. 1935; R.C.M. 1947, 11-2324(part); amd. Sec. 5, Ch. 256, L. 1979; amd. Sec. 9, Ch. 511, L. 1989; amd. Sec. 511, Ch. 61, L. 2007.