17-5-930. Tax exemption of bonds -- legal investments. (1) All bonds issued under this part, their transfer, and their income, including any profits made on their sale, are exempt from taxation by the state or any political subdivision or other instrumentality of the state, except for estate taxes.
(2) Bonds issued under this part are legal investments for any person or board charged with investment of public funds and are acceptable as security for any deposit of public money.
History: En. Sec. 17, Ch. 557, L. 1983; amd. Sec. 10, Ch. 9, Sp. L. May 2000.
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