Montana § 85-7-2023 Notice Of Sale Of Bonds

Montana Statutes

§ 85-7-2023 — Notice Of Sale Of Bonds

Montana § 85-7-2023

Title 85WATER USE

Ch. 7IRRIGATION DISTRICTS

Part 20Indebtedness, Bonds, and Bankruptcy

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Bluebook

Mont. Code Ann. § 85-7-2023 (2026).

Text

85-7-2023 . Notice of sale of bonds. Except as provided in 85-7-2033 regarding a private sale, before making any sale, the board shall, by resolution at a meeting, declare its intention to sell a specified amount of the bonds and the day, hour, and place of the sale. The board shall enter the resolution into the minutes and provide notice of the sale by publication at least once a week for 3 successive calendar weeks in a newspaper in the county where the office of the board of commissioners is located, and the notice may be published in any other newspaper at the board's discretion. The notice must state that sealed proposals will be received by the board at its office for the purchase of bonds until the day and hour named in the resolution. At the time appointed, the board shall open the

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85-7-2023 . Notice of sale of bonds. Except as provided in 85-7-2033 regarding a private sale, before making any sale, the board shall, by resolution at a meeting, declare its intention to sell a specified amount of the bonds and the day, hour, and place of the sale. The board shall enter the resolution into the minutes and provide notice of the sale by publication at least once a week for 3 successive calendar weeks in a newspaper in the county where the office of the board of commissioners is located, and the notice may be published in any other newspaper at the board's discretion. The notice must state that sealed proposals will be received by the board at its office for the purchase of bonds until the day and hour named in the resolution. At the time appointed, the board shall open the proposals and award the purchase of the bonds or any portion or portions of the bonds to the highest responsible bidder or bidders. The board may reject any or all bids. If an award is not made, the board may either readvertise the bonds or any part of the bonds for sale or sell the bonds or any part of the bonds at private sale. Coupons evidencing unearned interest must be detached and canceled.

Legislative History

En. Sec. 44, Ch. 146, L. 1909; amd. Sec. 13, Ch. 145, L. 1915; re-en. Sec. 7214, R.C.M. 1921; amd. Sec. 9, Ch. 157, L. 1923; re-en. Sec. 7214, R.C.M. 1935; R.C.M. 1947, 89-1707(2); amd. Sec. 20, Ch. 439, L. 1989; amd. Sec. 28, Ch. 253, L. 2011.