Montana § 7-7-4270 Authority To Buy Outstanding Bonds

Montana Statutes

§ 7-7-4270 — Authority To Buy Outstanding Bonds

Montana § 7-7-4270

Title 7LOCAL GOVERNMENT

Ch. 7DEBT MANAGEMENT

Part 42Municipal General Obligation Bonds

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Bluebook

Mont. Code Ann. § 7-7-4270 (2026).

Text

7-7-4270 . Authority to buy outstanding bonds. Whenever there is available money in any sinking fund over and above the amount required for payment of principal and interest becoming due on the next interest payment date and sufficient to pay and redeem one or more outstanding bonds of the issue or series to which the sinking fund belongs and whenever such bonds are not held by the state and are not subject to redemption, the city treasurer or town clerk, at the direction of the city or town council, shall purchase such bonds if this can be done at not more than par and accrued interest or at such reasonable premium as the council may feel justified in paying, not, in any case, exceeding 5%.

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7-7-4270 . Authority to buy outstanding bonds. Whenever there is available money in any sinking fund over and above the amount required for payment of principal and interest becoming due on the next interest payment date and sufficient to pay and redeem one or more outstanding bonds of the issue or series to which the sinking fund belongs and whenever such bonds are not held by the state and are not subject to redemption, the city treasurer or town clerk, at the direction of the city or town council, shall purchase such bonds if this can be done at not more than par and accrued interest or at such reasonable premium as the council may feel justified in paying, not, in any case, exceeding 5%.