7-6-4011. Use of bond proceeds and borrowed money. (1) Except as otherwise provided by law, money borrowed by a local government may be used only for the purpose for which the money was borrowed. Unless restricted by law, surplus borrowed money may be used to redeem the debt for which the money was borrowed.
(2) The authorization of bonds by the electors or the governing body constitutes the appropriation of the bond proceeds for the purpose for which the bonds are authorized.
History: En. Sec. 15, Ch. 278, L. 2001.
Structure Montana Code Annotated
Chapter 6. Financial Administration and Taxation
Part 40. Local Government Budget Act
7-6-4001. Short title -- applicability
7-6-4003. Budget and levies supplied to department of administration
7-6-4004. Budget fund structure
7-6-4005. Expenditures limited to appropriations
7-6-4006. Appropriation power -- requirements
7-6-4007. through 7-6-4010 reserved
7-6-4011. Use of bond proceeds and borrowed money
7-6-4012. Fee based budgets -- adjustable appropriation
7-6-4013. Fees for services -- hearing and resolution
7-6-4014. Restriction on tax-financed expenditures if voter approval required
7-6-4015. Payments for judgments
7-6-4016. through 7-6-4019 reserved
7-6-4020. Preliminary annual operating budget
7-6-4021. Notice of preliminary or amended budget
7-6-4022. District court budgets
7-6-4024. Hearing on preliminary budget
7-6-4025. Receipt and expenditure of money prior to adoption of final budget
7-6-4026. through 7-6-4029 reserved
7-6-4030. Final budget -- resolution -- appropriations
7-6-4031. Budget amendment procedures
7-6-4032. Emergency expenditures
7-6-4033. Expenditure limitation
7-6-4034. Determination of fund requirements -- property tax levy
7-6-4035. Tax levies for boards and commissions -- bond exemption
7-6-4037. Cause of action -- failure to adopt or submit an annual operating budget