7-7-108. Authorization for additional indebtedness for water or sewer systems. (1) For the purpose of constructing a sewer system or procuring a water supply or constructing or acquiring a water system for a city-county consolidated government that owns and controls the water supply and water system and devotes the revenue from the supply and system to the payment of the debt, a city-county consolidated government may incur an additional indebtedness by borrowing money or issuing bonds.
(2) The additional indebtedness that may be incurred by borrowing money or issuing bonds for the construction of a sewer system or for the procurement of a water supply or for both purposes may not in the aggregate exceed 10% over and above the debt limitation referred to in 7-7-107.
History: En. 16-2010.1 by Sec. 1, Ch. 175, L. 1975; amd. Sec. 39, Ch. 566, L. 1977; R.C.M. 1947, 16-2010.1(part); amd. Sec. 44, Ch. 614, L. 1981; amd. Sec. 4, Ch. 285, L. 1999; amd. Sec. 6, Ch. 29, L. 2001.
Structure Montana Code Annotated
Part 1. General Provisions Related to Local Governments
7-7-104. Limitation on action to test bond validity
7-7-105. Challenges to local government bond elections
7-7-106. Hearing and determination on challenge
7-7-107. Limitation on amount of bonds for city-county consolidated units
7-7-108. Authorization for additional indebtedness for water or sewer systems
7-7-110. Authorization of bonds
7-7-111. through 7-7-120 reserved
7-7-121. Misconduct in relation to bond funds
7-7-122. Prosecution for misconduct
7-7-123. Investment of sinking funds of local governments
7-7-124. Limitation on investment of sinking funds
7-7-125. through 7-7-130 reserved
7-7-131. Bankruptcy -- definitions
7-7-132. Procedure to declare bankruptcy
7-7-133. Power to comply with court decrees related to bankruptcy
7-7-134. Role of state and state agencies in relation to bankruptcy
7-7-135. through 7-7-139 reserved
7-7-140. Recovery zone economic development bonds and recovery zone facility bonds