7-13-2331. Issuance of general obligation bonds. (1) In addition to the powers granted to a district in this part to finance facilities and improvements, a district may issue general obligation bonds for a term of up to 40 years to:
(a) provide funds to pay part or all of the cost of acquisition, construction, or improvement of facilities; or
(b) refund any bonds issued for the acquisition, construction, or improvement of facilities.
(2) General obligation bonds issued pursuant to this section must be authorized, sold, and issued, with provisions for their payment, in the manner and subject to the conditions prescribed for bonds of school districts in Title 20, chapter 9, part 4, except to the extent that those conditions conflict with the express provisions of part 22 or this part.
(3) Nothing in this section prohibits a district from imposing rates or other charges for the use of facilities that have been financed in whole or part by general obligation bonds under this section if the revenue from the rates or charges is used to abate taxes that have been levied to pay the principal or interest on the general obligation bonds or is used to pay the principal or interest on other bonded indebtedness of the district.
History: En. Sec. 7, Ch. 518, L. 1995.
Structure Montana Code Annotated
Part 23. County Water and/or Sewer Districts Continued
7-13-2301. Establishment of charges for services -- payment of charges
7-13-2302. Levy of taxes to meet bond obligations and other expenses
7-13-2303. Methods of assessment
7-13-2304. Notice of intention to levy tax
7-13-2305. Legal sufficiency of notice
7-13-2306. Contents of notice -- hearing and protest
7-13-2307. Hearing on protest to levy of tax
7-13-2308. Payment of tax under protest -- action to recover
7-13-2309. Collection of taxes
7-13-2311. Designation of fund depositary
7-13-2312. through 7-13-2320 reserved
7-13-2321. Procedure to incur bonded indebtedness
7-13-2323. Election on question of incurring bonded indebtedness
7-13-2324. Notice of election on incurring bonded indebtedness
7-13-2325. Qualifications to vote on question of incurring bonded indebtedness
7-13-2327. Entry of bond election results
7-13-2328. Sufficient vote required to issue bonds
7-13-2330. Status of bonds -- tax exemption
7-13-2331. Issuance of general obligation bonds
7-13-2332. Issuance of refunding bonds without election
7-13-2333. Issuance of revenue or special assessment bonds without election
7-13-2334. through 7-13-2339 reserved
7-13-2340. Correction of erroneous property description
7-13-2341. Addition of land to district -- election required -- effect on land and district
7-13-2342. Consolidation of county water and/or sewer districts -- election required
7-13-2343. Exclusion of land from district -- initiated by petition
7-13-2344. Details relating to petition to exclude land from district
7-13-2345. Hearing and notice on petition to exclude land
7-13-2346. Decision on petition to exclude land
7-13-2347. Effect of order excluding land
7-13-2348. Exclusion of land from district -- initiated by board of directors
7-13-2349. Establishment of subdistricts