7-14-4635. Authority to establish lien on charges for payment of bonds. The commission may provide that bond redemption and the interest payment shall constitute a first, direct, and exclusive charge and lien on all such fees, charges, and other revenues and interest thereon and sinking funds created therefrom received from the use and operation of the project for the acquisition, construction, or completion of which such revenue bonds were issued. All such fees and charges and other revenues, together with the interest thereon, shall constitute a trust fund for the security and payment of such bonds and shall not be used or pledged for any other purpose so long as such bonds (or any of them) are outstanding and unpaid.
History: En. Sec. 22, Ch. 223, L. 1951; R.C.M. 1947, 11-3722(part).
Structure Montana Code Annotated
7-14-4601. Findings and purpose
7-14-4603. Creation of parking commission authorized
7-14-4604. Public nature of parking commission
7-14-4605. Determination of need to create parking commission
7-14-4606. Resolution of need required
7-14-4607. Resolution for parking commission to function
7-14-4608. Adoption of resolutions -- jurisdictional area
7-14-4609. Appointment of commission
7-14-4611. Removal of parking commission member
7-14-4612. Organization and operation of commission
7-14-4613. Funds for administrative purposes of parking commission
7-14-4614. Annual audit of financial affairs of parking commission
7-14-4615. Reports on commission transactions
7-14-4616. Termination of parking commission due to inaction -- windup of commission affairs
7-14-4617. through 7-14-4620 reserved
7-14-4621. General powers of parking commission
7-14-4622. Powers of parking commission related to provision of parking services
7-14-4623. Transfer of parking commission property to municipality
7-14-4624. Powers of commission related to financial management
7-14-4625. Limitation on employment powers
7-14-4626. Limitation on power of eminent domain
7-14-4627. Leasing of surplus or uneconomical space for incidental purposes
7-14-4628. Nature of onstreet parking regulations
7-14-4629. Manner of operating parking facility
7-14-4630. Notice for bids to lease parking facility
7-14-4631. Compliance with land use laws required
7-14-4632. Cooperation with other municipal offices
7-14-4634. Charges for use of parking facilities
7-14-4635. Authority to establish lien on charges for payment of bonds
7-14-4636. through 7-14-4640 reserved
7-14-4641. Authority to issue revenue bonds
7-14-4642. Election required to issue revenue bonds
7-14-4643. Sources of revenue for payment of revenue bonds
7-14-4644. Restrictions on use of reserve to make payments on revenue bonds
7-14-4645. Power to determine terms and conditions of revenue bonds
7-14-4646. Series or divisions of bonds permitted
7-14-4647. Interest on revenue bonds
7-14-4648. Payment of principal and interest
7-14-4649. Maturity dates of revenue bonds
7-14-4650. Signatures on bonds
7-14-4651. Redemption of revenue bonds
7-14-4652. Details relating to sale of revenue bonds
7-14-4653. Temporary or interim bonds
7-14-4654. Exemption from certain state taxes
7-14-4655. Authorization to enter into indentures
7-14-4656. Contents of indenture
7-14-4657. Special provisions relating to indenture clause dealing with amendment and modification
7-14-4658. Incorporation by reference of indenture in all contracts
7-14-4659. Funding and refunding bonds authorized
7-14-4660. Expenses which may be paid by means of funding or refunding bonds
7-14-4661. Bonds to be negotiable
7-14-4662. Bonds as legal investments
7-14-4663. Authorization to designate trustee for bondholders
7-14-4665. Role of appointed receiver
7-14-4666. Exemption from execution for property of parking commission -- exception