17-5-923. Trust indenture. In the discretion of the board, bonds issued under this part may be secured by a trust indenture by and between the board and a trustee, which may be any trust company or bank having the powers of a trust company inside or outside of the state. Each trust indenture or an executed counterpart thereof must be filed in the office of the secretary of state. The filing of a trust indenture or an executed counterpart thereof in the office of the county clerk and recorder of the county in which the property covered by the trust indenture is located is constructive notice of its content to all persons from the time of filing, and the recording of the trust indenture or its content is not necessary.
History: En. Sec. 10, 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