17-5-912. Pledge of highway revenues. All or any portion of highway revenues may be pledged to the payment of the principal, interest, and redemption premium, if any, on particular issues of state highway revenue bonds, and the pledge is and remains at all times a first lien and prior charge upon the pledged highway revenues credited to the highway revenue bond debt service account, subject to the pledge of particular highway revenues to secure particular issues of highway revenue bonds.
History: En. Sec. 5, Ch. 557, L. 1983; amd. Sec. 4, Ch. 249, L. 1983; amd. Sec. 3, Ch. 10, L. 2009.
Structure Montana Code Annotated
17-5-904. through 17-5-910 reserved
17-5-911. Highway revenue bond debt service account -- deposit of bond proceeds
17-5-912. Pledge of highway revenues
17-5-913. Authority to issue highway revenue bonds
17-5-914. Continuation of taxes -- limit on additional highway revenue bonds
17-5-915. through 17-5-920 reserved
17-5-921. Bond anticipation notes -- issued when -- payment of principal and interest
17-5-922. Form -- principal and interest -- fiscal agent -- bonds authorized
17-5-924. Provisions for protecting bondholders
17-5-925. Personal liability -- suit to compel performance
17-5-926. Negotiability of bonds
17-5-927. Signatures of board members