7-6-1112. Funds for payment of principal and interest. For the purpose of providing funds for the payment of principal of and interest on gross proceeds obligations or short-term obligations, the governing body may authorize the creation of a special fund or funds and provide for the payment from authorized sources to such funds of amounts sufficient to meet principal and interest requirements.
History: En. Sec. 6, Ch. 481, L. 1985; amd. Sec. 8, Ch. 145, L. 2021.
Structure Montana Code Annotated
Chapter 6. Financial Administration and Taxation
Part 11. Tax and Revenue Anticipation Notes
7-6-1102. Gross proceeds and short-term obligations authorized
7-6-1103. Issuance and sale of gross proceeds obligations and short-term obligations -- procedure
7-6-1105. Refunding and renewal of short-term obligations
7-6-1106. through 7-6-1110 reserved
7-6-1111. Gross proceeds and short-term obligations -- security
7-6-1112. Funds for payment of principal and interest
7-6-1113. and 7-6-1114 reserved
7-6-1115. Local government debt limitations not to apply to short-term obligations