7-12-4245. Resolution for issuance of bonds. (1) Whenever the council has been authorized to issue bonds under 7-12-4241 through 7-12-4258, the council may by resolution determine to issue such bonds and provide for the guaranty thereof by the supplemental revolving fund.
(2) Such resolution shall fix the amount, maturity, and interest rate and provide for the sale of bonds in such manner as the council shall determine.
(3) The resolution providing for the issuance of bonds may also contain such reasonable covenants for the protection of the holders thereof as the council may determine.
History: En. Sec. 4, Ch. 260, L. 1947; amd. Sec. 19, Ch. 234, L. 1971; R.C.M. 1947, 11-2277(part).
Structure Montana Code Annotated
Chapter 12. Improvement Districts
Part 42. Special Improvement Districts Continued
7-12-4201. Use of bonds and warrants
7-12-4203. Details relating to special improvement district bonds and warrants
7-12-4204. Procedure to issue bonds and warrants
7-12-4205. Disposition of bond or warrant proceeds
7-12-4206. Redemption of bonds and warrants
7-12-4207. Investment of interest and sinking fund money
7-12-4208. through 7-12-4220 reserved
7-12-4221. Creation of special improvement district revolving fund
7-12-4222. Sources of money for revolving fund
7-12-4223. Loans from revolving fund to meet payments on bonds and warrants
7-12-4224. Lien arising due to loan from revolving fund
7-12-4226. Investment of surplus reserves
7-12-4227. Utilization of excess money in revolving fund
7-12-4228. Disposition of tax certificates and tax lien sale property
7-12-4229. Disposal of funds deposited in revolving fund
7-12-4230. through 7-12-4240 reserved
7-12-4241. Creation of supplemental revolving fund from parking meter revenue
7-12-4242. Application of provisions relating to supplemental revolving fund
7-12-4244. Issuance of bonds based upon supplemental revolving fund -- election
7-12-4245. Resolution for issuance of bonds
7-12-4246. Determination of cost of improvements
7-12-4247. Details relating to bonds
7-12-4248. Operation and use of supplemental revolving fund
7-12-4249. Meaning of term deficiency
7-12-4250. Obligations of municipalities to bondholders
7-12-4251. Enforcement of bondholders' rights
7-12-4252. Judicial determination of validity of proceedings -- petition
7-12-4253. Nature of court proceedings
7-12-4254. Hearing on petition -- notice
7-12-4255. Contents of notice of hearing -- protest
7-12-4256. Decision of district court