Montana § 20-9-443 Disposition Of Remaining Debt Service Fund

Montana Statutes

§ 20-9-443 — Disposition Of Remaining Debt Service Fund

Montana § 20-9-443

Title 20EDUCATION

Ch. 9FINANCE

Part 4School Bonds

This text of Montana § 20-9-443 (Disposition Of Remaining Debt Service Fund) 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. § 20-9-443 (2026).

Text

20-9-443 . Disposition of remaining debt service fund.

(1)Except as provided in subsection (2), when all of the bonds, bond interest, and special improvement district obligations of a school district have been fully paid, all money remaining in the debt service fund for the school district and all money that may come into the debt service fund from the payment of the delinquent taxes must be transferred by the county treasurer to the building reserve levy fund, the technology acquisition and depreciation fund, or the general fund as designated by the school district if the subsequent use of the funds by the school district is limited to constructing, equipping, or enlarging school buildings or purchasing land needed for school purposes in the district.

(2)Any federal impact aid funding r

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20-9-443 . Disposition of remaining debt service fund. (1) Except as provided in subsection (2), when all of the bonds, bond interest, and special improvement district obligations of a school district have been fully paid, all money remaining in the debt service fund for the school district and all money that may come into the debt service fund from the payment of the delinquent taxes must be transferred by the county treasurer to the building reserve levy fund, the technology acquisition and depreciation fund, or the general fund as designated by the school district if the subsequent use of the funds by the school district is limited to constructing, equipping, or enlarging school buildings or purchasing land needed for school purposes in the district.
(2) Any federal impact aid funding remaining in the debt service fund of a school district that has fully repaid the bonds and bond interest must revert to the district's impact aid fund established pursuant to 20-9-514 .

Legislative History

En. 75-7132 by Sec. 333, Ch. 5, L. 1971; R.C.M. 1947, 75-7132; amd. Sec. 4, Ch. 480, L. 2001; amd. Sec. 3, Ch. 549, L. 2001; amd. Sec. 19, Ch. 462, L. 2005; amd. Sec. 25, Ch. 44, L. 2007.