Montana § 85-7-1413 Authority To Issue Revenue Bonds

Montana Statutes

§ 85-7-1413 — Authority To Issue Revenue Bonds

Montana·Title 85 WATER USE·Ch. 7 IRRIGATION DISTRICTS·Part 14 Irrigation District Revenue Bond Act

85-7-1413 . Authority to issue revenue bonds. An irrigation district may:

(1)issue its bonds to finance in whole or in part the acquisition, construction, or improvement of any undertaking; and

(2)pledge to the punctual payment of bonds issued under this part and interest thereon an amount of the revenue of the undertaking (including subsequent improvements or extensions) sufficient to pay the bonds and interest as they become due, and maintain reasonable reserves therefor.

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85-7-1413 . Authority to issue revenue bonds. An irrigation district may:
(1) issue its bonds to finance in whole or in part the acquisition, construction, or improvement of any undertaking; and
(2) pledge to the punctual payment of bonds issued under this part and interest thereon an amount of the revenue of the undertaking (including subsequent improvements or extensions) sufficient to pay the bonds and interest as they become due, and maintain reasonable reserves therefor.

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