7-7-2261. Maintenance of accounts for bond issues. (1) The county treasurer of each county shall keep in the county's books a special and separate sinking fund account for each series or issue of outstanding bonds, including citizen bonds as provided in 7-7-2212 through 7-7-2215, issued by the county. Each fund must at all times show the exact condition of the bonds.
(2) All taxes collected for interest and principal on county bonds must be placed to the credit of the sinking fund for which the taxes were levied.
(3) Interest from investment of money in a sinking fund account may, in the discretion of the board of county commissioners, be used as it accrues to fulfill or complete the specific project for which the bonds were issued.
(4) The sinking fund must be administered as provided in 7-7-123, 7-7-124, and 7-7-2270.
History: En. Sec. 27, Ch. 188, L. 1931; re-en. Sec. 4630.27, R.C.M. 1935; amd. Sec. 1, Ch. 103, L. 1973; R.C.M. 1947, 16-2041(part); amd. Sec. 3, Ch. 256, L. 1979; amd. Sec. 9, Ch. 559, L. 1993.
Structure Montana Code Annotated
Part 22. County General Obligation Bonds
7-7-2201. Purposes for which general obligation bonds of county may be issued
7-7-2202. Authority to issue general obligation bonds to satisfy judgments
7-7-2203. Limitation on amount of bonded indebtedness
7-7-2204. Effect of issuing bonds in excess of limitations on amount
7-7-2205. Nature of general obligation bonds
7-7-2206. Term of general obligation bonds
7-7-2212. Citizen bonds authorized
7-7-2213. Citizen bonds -- procedural requirements prior to issuance
7-7-2214. Citizen bonds -- procedure when issue not fully subscribed
7-7-2215. Zero-coupon bonds and capital appreciation bonds
7-7-2216. through 7-7-2220 reserved
7-7-2221. Issuance of certain general obligation bonds without election
7-7-2222. Procedure to issue bonds without election
7-7-2223. Election required for issuance of certain bonds
7-7-2224. Form and contents of petition
7-7-2225. Filing of petition with election administrator -- certificate
7-7-2226. Delivery of certified petition to board of county commissioners
7-7-2227. Examination of petition -- resolution calling for election
7-7-2237. Percentage of electors required to authorize bond issue
7-7-2238. Resolution to sell bonds pursuant to public sale
7-7-2239. Rescission of resolution authorizing bond issue
7-7-2240. through 7-7-2250 reserved
7-7-2251. Form of notice of sale of bonds
7-7-2252. Publication of notice of sale of bonds
7-7-2254. Procedure for sale of bonds
7-7-2255. Form and execution of bonds
7-7-2257. Registration of bonds
7-7-2258. Copy of bond to be kept by county treasurer
7-7-2260. Disposition of sale proceeds
7-7-2261. Maintenance of accounts for bond issues
7-7-2262. Payment of principal and interest
7-7-2263. Interest on late payments of principal and interest on bonds held by state
7-7-2264. Statement as to amount of principal and interest due and payable on bonds
7-7-2265. Tax levy for payment of bonds
7-7-2266. Procedure in case of insufficient tax levy -- individual liability of county commissioners
7-7-2269. Order of redemption of bonds
7-7-2270. Authority to purchase outstanding bonds
7-7-2272. Cancellation of bonds and coupons
7-7-2273. Cancellation of warrants and refunded general obligation bonds
7-7-2274. Closing of accounts and transfer of money to other accounts