7-7-2270. Authority to purchase outstanding bonds. Whenever there is available money in any sinking fund over and above the amount required for payment of the principal and interest becoming due on the next interest payment date and sufficient to pay and redeem one or more outstanding bonds of the issue or series to which the sinking fund belongs and whenever such bonds are not held by the state of Montana and are not subject to redemption, the county treasurer, at the direction of the board of county commissioners, shall purchase such bonds if this can be done at not more than par and accrued interest or at such reasonable premium as the board may feel justified in paying, not in any case exceeding 5%.
History: En. Sec. 30, Ch. 188, L. 1931; re-en. Sec. 4630.30, R.C.M. 1935; amd. Sec. 2, Ch. 46, L. 1939; amd. Sec. 1, Ch. 12, L. 1963; R.C.M. 1947, 16-2044(part); amd. Sec. 4, Ch. 256, L. 1979.
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