17-5-107. Public or private sale -- procedure for public sale. (1) The governing body of a political subdivision may sell its bonds at public or private sale as determined by the governing body and, if the bonds are sold at private sale, in denominations and forms approved by the governing body. If the governing body conducts a public sale, those provisions of state law regarding the public sale of bonds that pertain to the political subdivision govern the sale.
(2) The bonds must be sold at not less than 97% of the principal amount of the bonds if the governing body determines that a sale at that price is in the best interests of the political subdivision.
History: En. Sec. 1, Ch. 253, L. 2011.
Structure Montana Code Annotated
Part 1. Rates of Interest -- Notice
17-5-102. Rate of interest on bonds to be determined by governing bodies
17-5-103. Rate of interest on special assessments determined by governing bodies -- limitations
17-5-104. Effect of revisions on bonds previously authorized
17-5-105. Redemption of bonds -- optional method
17-5-106. Notice of public bond sale
17-5-107. Public or private sale -- procedure for public sale
17-5-108. through 17-5-110 reserved
17-5-111. Electronic submission of bids
17-5-112. through 17-5-115 reserved
17-5-116. Allocation of bonding limits -- American Recovery and Reinvestment Act of 2009