17-5-1313. Allocation to local issuers. (1) The local portion must be allocated by the department pursuant to 17-5-1316, and no local issuer is entitled to an allocation except from the local portion set-aside.
(2) No more than $20 million of the local portion may be allocated for a single project or purpose prior to the first Monday in September of each year.
(3) After the first Monday in September, the local portion must be allocated by the department to issuers pursuant to 17-5-1316 without preference, priority, or limitation.
History: En. Sec. 5, Ch. 190, L. 1987.
Structure Montana Code Annotated
Part 13. Montana Unified Volume Cap Bond Allocation Plan Act
17-5-1303. through 17-5-1310 reserved
17-5-1311. State's volume cap and reservations -- department to adopt rule
17-5-1312. Allocation to state issuers
17-5-1313. Allocation to local issuers
17-5-1314. Authorization by the governor
17-5-1315. Carryforward elections
17-5-1316. Allocations by the department
17-5-1317. Notification of approval or disapproval by the department
17-5-1318. Terms of allocations
17-5-1319. and 17-5-1320 reserved
17-5-1321. Allocations not transferable
17-5-1325. Reassignment of bonding authority for agricultural purposes -- contingency