7-12-2172. Procedure to issue bonds and warrants. (1) Subject to subsection (2), the board of county commissioners shall sell bonds or warrants issued under the provisions of 7-12-2169 and 7-12-2171 through 7-12-2174, in an amount sufficient to pay that part of the total cost and expense of the improvements that is to be assessed against the benefited property within the district, to the highest and best bidder for cash, at a price, including interest to date of delivery, not less than that prescribed by the board in the resolution calling for the sale of the bonds or warrants. The board may fix the minimum price for the bonds or warrants in an amount not less than 97% of the face value of the bonds or warrants if it determines that the sale is in the best interests of the district and the county.
(2) The bonds or warrants may be sold at a private negotiated sale as determined by the board of county commissioners pursuant to 17-5-107 and subject to the requirements of 7-12-2171.
(3) In all other cases, the provisions of 7-7-4251, 7-7-4252, and 7-7-4254 that relate to the notice of sale, publication of notice, and manner and method of selling bonds by cities and towns, when applicable and not in conflict with the provisions of 7-12-2173 and this section, apply to, govern, and control the form of notice of sale, publication of notice, and manner and method of selling bonds or warrants.
History: En. Ch. 123, L. 1915; superseded by Ch. 156, L. 1917; amd. Ch. 67, L. 1919; superseded by Sec. 20, Ch. 147, L. 1921; re-en. Sec. 4593, R.C.M. 1921; re-en. Sec. 4593, R.C.M. 1935; amd. Sec. 1, Ch. 3, L. 1955; amd. Sec. 7, Ch. 260, L. 1959; amd. Sec. 2, Ch. 136, L. 1961; amd. Sec. 2, Ch. 40, L. 1965; amd. Sec. 22, Ch. 234, L. 1971; R.C.M. 1947, 16-1620(part); amd. Sec. 21, Ch. 665, L. 1985; amd. Sec. 2, Ch. 449, L. 1989; amd. Sec. 3, Ch. 6, L. 1993; amd. Sec. 1, Ch. 287, L. 2009; amd. Sec. 16, Ch. 253, L. 2011.
Structure Montana Code Annotated
Chapter 12. Improvement Districts
Part 21. Rural Improvement Districts
7-12-2103. Resolution of intention to create rural improvement district
7-12-2104. Sufficiency of description in resolution of intention
7-12-2105. Notice of resolution of intention to create district -- hearing -- exception
7-12-2107. Responsibility for posting and publication of notice
7-12-2108. Extension of proposed district
7-12-2109. Right to protest creation or extension of district -- exception
7-12-2112. Sufficient protest to bar proceedings -- exception
7-12-2113. Resolution creating district -- power to order improvements
7-12-2114. Area includable within district
7-12-2115. Adjournment of hearing
7-12-2116. County surveyor as improvement district engineer
7-12-2117. Record of expenses to be kept by engineer
7-12-2118. Role of county clerk
7-12-2119. Manner of making demands for incidental expenses
7-12-2120. Maintenance of improvements
7-12-2121. Administration of multicounty district
7-12-2122. Term of office of multicounty district trustee
7-12-2123. Powers of multicounty district board of trustees
7-12-2124. Dissolution of district
7-12-2125. Right to protest dissolution of district
7-12-2126. Transfer of management and control of district to city or town
7-12-2128. Transfer of ownership of improvements -- petition -- hearing -- effect of transfer
7-12-2129. and 7-12-2130 reserved
7-12-2131. Bids for district work -- exception
7-12-2132. Advertising for bids
7-12-2133. Competitive bidding not required for purchase of existing improvement
7-12-2135. Decision on award of contract
7-12-2136. Procedure if all bids rejected or no bids received
7-12-2137. Procedure for dealing with bid securities
7-12-2138. Contractor's bond for successful completion of work
7-12-2139. Procedure if person entering contract defaults on work
7-12-2140. Procedure for objection to proceedings
7-12-2141. Protest procedures for property created as condominium
7-12-2142. through 7-12-2150 reserved
7-12-2151. Assessment of costs
7-12-2152. Exception for owners of water ditches under certain circumstances
7-12-2154. Payment of damages incurred as result of improvements
7-12-2155. Apportionment of costs between corner lots and inside lots
7-12-2156. Responsibility for costs for improvements close to street railway
7-12-2157. Status of federal property within improvement district
7-12-2158. Resolution for levy and assessment of tax
7-12-2159. Notice of resolution for levy and assessment of tax -- protest and hearing
7-12-2162. Improvement district maintenance fund
7-12-2163. Collection of district assessments by county treasurer -- delinquencies
7-12-2164. Payment of tax under protest -- action to recover
7-12-2165. Procedure to correct assessment and relevy and collect tax
7-12-2166. Certain errors not to invalidate assessments or liens
7-12-2167. Term of payment of assessments
7-12-2168. Assessments and certain other charges as liens
7-12-2169. Use of bonds and warrants
7-12-2171. Details relating to rural improvement district bonds and warrants
7-12-2172. Procedure to issue bonds and warrants
7-12-2173. Disposition of bond or warrant proceeds
7-12-2174. Redemption of bonds and warrants
7-12-2175. Investment of maintenance, interest, and sinking fund money
7-12-2176. Interest rate on unpaid assessments
7-12-2177. through 7-12-2180 reserved
7-12-2181. Creation of rural improvement district revolving fund
7-12-2182. Sources of money for revolving fund
7-12-2184. Lien arising due to loan from revolving fund
7-12-2186. Utilization of excess money in revolving fund
7-12-2187. through 7-12-2190 reserved
7-12-2191. Change in outstanding principal of district -- relevy of assessments
7-12-2192. Pooling of bonds of districts in county
7-12-2194. and 7-12-2195 reserved
7-12-2196. Water user entities exempt from special assessments