17-5-913. Authority to issue highway revenue bonds. The board may issue and sell highway revenue bonds to finance the cost of highway projects, to pay the costs of issuing the bonds, and to provide for reserves, upon recommendation of the department. The state reserves the right to issue additional bonds secured equally and ratably by the pledge and appropriation of the highway revenues or separately secured by a portion of highway revenues subject only to the pledge of particular highway revenues to secure particular bonds.
History: En. Sec. 6, Ch. 557, L. 1983.
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