Montana Code Annotated
Part 42. Municipal General Obligation Bonds
7-7-4211. Citizen bonds authorized

7-7-4211. Citizen bonds authorized. (1) A city or town authorized to sell general obligation bonds under this chapter may issue and sell any portion of the bond in denominations of less than $5,000 by:
(a) competitive public sale, directly to members of the public, at preestablished interest rates; or
(b) private sale.
(2) Citizen bonds may be issued for any purpose for which a city or town may issue general obligation bonds.
(3) Bonds issued under 7-7-4211 through 7-7-4213 may be known as "citizen bonds".
(4) An officer, employee, contracted financial consultant, or contracted advisor employed or retained by a city or town selling citizen bonds may not purchase those bonds.
History: En. Sec. 1, Ch. 511, L. 1989; amd. Sec. 7, Ch. 253, L. 2011.

Structure Montana Code Annotated

Montana Code Annotated

Title 7. Local Government

Chapter 7. Debt Management

Part 42. Municipal General Obligation Bonds

7-7-4201. Limitation on amount of bonded indebtedness

7-7-4202. Special provisions relating to water and sewer systems

7-7-4203. What constitutes a single purpose

7-7-4204. Nature of general obligation bonds

7-7-4205. Term of general obligation bonds

7-7-4206. Redemption of bonds

7-7-4207. Repealed

7-7-4208. Types of general obligation bonds

7-7-4209. Amortization bonds

7-7-4210. Serial bonds

7-7-4211. Citizen bonds authorized

7-7-4212. Citizen bonds -- procedural requirements prior to issuance

7-7-4213. Citizen bonds -- procedure when issue not fully subscribed

7-7-4214. Zero-coupon and capital appreciation bonds

7-7-4215. through 7-7-4220 reserved

7-7-4221. Election on question of incurring indebtedness -- exception

7-7-4222. Election required for bond issue relating to water and sewer systems

7-7-4223. Procedure to call election on question of bonded indebtedness

7-7-4224. Petition to request election

7-7-4225. Presentation of petition to city or town clerk -- clerk's certificate

7-7-4226. Resolution to submit question of issuing bonds to voters

7-7-4227. Notice of election

7-7-4228. Repealed

7-7-4229. Repealed

7-7-4230. Repealed

7-7-4231. Repealed

7-7-4232. Repealed

7-7-4233. Repealed

7-7-4234. Repealed

7-7-4235. Percentage of electors required to authorize issuing of bonds

7-7-4236. Resolution to sell bonds pursuant to public sale

7-7-4237. through 7-7-4250 reserved

7-7-4251. Form of notice of sale of bonds

7-7-4252. Publication of notice of sale

7-7-4253. Repealed

7-7-4254. Procedure for sale of bonds

7-7-4255. Form and execution of bonds

7-7-4256. Printing of bonds

7-7-4257. Registration of bonds

7-7-4258. Copy of bond to be kept by city treasurer

7-7-4259. Delivery of bonds

7-7-4260. Disposition of sale proceeds

7-7-4261. Maintenance of accounts for bond issues

7-7-4262. Payment of principal and interest

7-7-4263. Interest on late payments of principal and interest

7-7-4264. Statement as to amount of principal and interest due and payable on bonds

7-7-4265. Tax levy for payment of bonds

7-7-4266. Procedure in case of insufficient tax levy -- individual liability of council members

7-7-4267. Repealed

7-7-4268. Redemption of bonds

7-7-4269. Order of redemption of bonds

7-7-4270. Authority to buy outstanding bonds

7-7-4271. Repealed

7-7-4272. Cancellation of bonds and coupons

7-7-4273. Cancellation of warrants and refunded general obligation bonds

7-7-4274. Closing of accounts and transfer of money to other funds

7-7-4275. Refunding of bond issue held by state by exchange for amortization bonds