Montana § 85-9-406 Directors' Powers Over Finance

Montana Statutes

§ 85-9-406 — Directors' Powers Over Finance

Montana·Title 85 WATER USE·Ch. 9 CONSERVANCY DISTRICTS·Part 4 Organization and Procedure

85-9-406 . Directors' powers over finance. On behalf of the district, the directors may:

(1)borrow money and incur indebtedness and issue bonds to finance works as provided by this chapter;

(2)in addition to all voted indebtedness, borrow money as necessary, but the amount may not at any one time exceed 0.23% of the total assessed value of taxable real property, determined as provided in 15-8-111 , within the district, as ascertained by the last assessment for state and county taxes prior to the issuance of the bonds;

(3)mortgage property owned by the district if the terms of the mortgage are not inconsistent with the provisions of a resolution authorizing the sale of bonds;

(4)use any surplus funds to purchase outstanding bonds;

(5)refund bonded indebtedness incurred by the district

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85-9-406 . Directors' powers over finance. On behalf of the district, the directors may:
(1) borrow money and incur indebtedness and issue bonds to finance works as provided by this chapter;
(2) in addition to all voted indebtedness, borrow money as necessary, but the amount may not at any one time exceed 0.23% of the total assessed value of taxable real property, determined as provided in 15-8-111 , within the district, as ascertained by the last assessment for state and county taxes prior to the issuance of the bonds;
(3) mortgage property owned by the district if the terms of the mortgage are not inconsistent with the provisions of a resolution authorizing the sale of bonds;
(4) use any surplus funds to purchase outstanding bonds;
(5) refund bonded indebtedness incurred by the district as provided by this chapter;
(6) after a hearing held in accordance with 85-9-602 , make assessments sufficient to meet the budgetary requirements for the coming year.

Montana § 85-9-406 (Directors' Powers Over Finance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.