Montana Statutes
§ 90-7-306 — Trust Funds
Montana·Title 90 PLANNING, RESEARCH, AND DEVELOPMENT·Ch. 7 FACILITY FINANCE AUTHORITY·Part 3 Notes and Bonds
90-7-306 . Trust funds. All money received pursuant to this chapter, whether as proceeds from the sale of bonds, notes, or other obligations or as revenue or receipts, are trust funds to be held and applied solely as provided in this chapter. Any officer with whom or any bank or trust company with which such money is deposited shall act as trustee of the money and shall hold and apply it for the purposes of this chapter, subject to such regulations as this chapter and the resolution authorizing the bonds, notes, or other obligations of any issue or the trust agreement securing the obligations may provide.
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Legislative History
En. Sec. 22, Ch. 703, L. 1983.
Nearby Sections
15
§ 90-7-101
Short Title§ 90-7-102
Definitions§ 90-7-103
Allowable Costs§ 90-7-104
Eligible Facility§ 90-7-105
Through 90-7-110 Reserved§ 90-7-113
Bonds As Legal Investment§ 90-7-114
And 90-7-115 Reserved§ 90-7-117
Through 90-7-120 Reserved§ 90-7-121
Biennial Audit§ 90-7-202
Powers Of Authority§ 90-7-203
Staff Of Authority