7-7-124. Limitation on investment of sinking funds. If any of the bonds for which the sinking fund was established are not yet due but are then redeemable under optional provisions, the money in the sinking fund is not subject to investment but shall be used and applied in payment and redemption of the bonds.
History: En. Sec. 1, Ch. 86, L. 1923; re-en. Sec. 4622.1, R.C.M. 1935; amd. Sec. 1, Ch. 37, L. 1939; amd. Sec. 1, Ch. 11, L. 1963; amd. Sec. 68, Ch. 348, L. 1974; R.C.M. 1947, 16-2001(part); amd. Sec. 2, Ch. 256, L. 1979.
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