17-5-711. Trust indenture. In the discretion of the board of examiners, a series of bonds or notes issued under this part may be secured by a trust indenture by and between the board of examiners and a trustee, which may be any trust company or bank having the powers of a trust company within or outside of the state. Each trust indenture or an executed counterpart thereof shall be filed in the office of the secretary of state of Montana. The filing of a trust indenture or an executed counterpart thereof in the office of the county clerk of the county in which the property covered by the trust indenture is located is constructive notice of its contents to all persons from the time of the filing, and the recording of the trust indenture or its contents is not necessary.
History: En. Sec. 34, Ch. 505, L. 1981; amd. Sec. 3, Ch. 512, L. 1985.
Structure Montana Code Annotated
Part 7. Coal Severance Tax Bonds -- Water Development
17-5-701. State of Montana coal severance tax bonds
17-5-703. Coal severance tax trust funds
17-5-705. Pledge of coal severance tax bond fund
17-5-706. Authority to issue coal severance tax bonds
17-5-707. Board of examiners to issue bonds
17-5-708. Special fund revenues
17-5-709. Continued tax deposit limit on additional bonds
17-5-710. Form -- principal and interest -- fiscal agent -- deposit of proceeds
17-5-712. Provisions for protecting bondholders
17-5-713. Personal liability -- suit to compel performance
17-5-714. Negotiability of bonds
17-5-715. Signatures of board members
17-5-716. Refunding obligations
17-5-718. Tax exemption of bonds -- legal investments
17-5-719. Limitation on amount of coal severance tax bonds issued
17-5-720. Authorization to issue revenue bonds
17-5-721. Authorization to issue revenue bonds
17-5-722. through 17-5-730 reserved
17-5-731. Bond anticipation notes -- when issued -- payment of principal and interest