7-10-207. Nature of revenue bonds. (1) The holder or holders of any bonds issued under this part does not have the right to compel any exercise of taxing power of the regional resource authority to pay the revenue bonds or the interest on the bonds.
(2) Each bond issued under this part must recite in substance that:
(a) the bond, including interest on the bond, is payable from the revenue pledged to the payment of the bond; and
(b) the bond does not constitute a debt of the regional resource authority within the meaning of any constitutional or statutory limitation or provision.
History: En. Sec. 13, Ch. 351, L. 2009.
Structure Montana Code Annotated
Chapter 10. Regional Resource Authorities
7-10-201. Regional resource authority projects -- definition
7-10-202. Role of state agencies
7-10-203. and 7-10-204 reserved
7-10-205. Authority to issue revenue bonds
7-10-206. Determination of cost
7-10-207. Nature of revenue bonds
7-10-208. Projects to be self-supporting
7-10-209. Use of revenue from project
7-10-210. through 7-10-214 reserved
7-10-215. Covenants in resolution authorizing issuance of bonds
7-10-217. Presumption of validity of bonds
7-10-218. Liens arising from bonds
7-10-219. Details relating to revenue bonds