75-5-1122. Creation of debt. The legislature, through the enactment of this law by a two-thirds vote of the members of each house, authorizes the creation of state debt in an amount not to exceed $70 million in principal amount of general obligation bonds outstanding from time to time for the purpose of:
(1) funding the program; and
(2) funding portions of loans on an interim basis pending receipt of:
(a) grant payments from the environmental protection agency for which federal legislation appropriating the proceeds of the grants has been enacted; or
(b) other revenue for the program.
History: En. Sec. 13, Ch. 678, L. 1989; amd. Sec. 1, Ch. 73, L. 1999; amd. Sec. 1, Ch. 18, L. 2003; amd. Sec. 2, Ch. 323, L. 2005; amd. Sec. 2, Ch. 29, L. 2021.
Structure Montana Code Annotated
Title 75. Environmental Protection
Part 11. Water Pollution Control State Revolving Fund
75-5-1103. Water pollution control state revolving fund program
75-5-1104. Authorization of agreement -- content
75-5-1107. Uses of revolving fund
75-5-1108. Use of funds -- statutory appropriation
75-5-1109. and 75-5-1110 reserved
75-5-1112. Evaluation of projects and loan applications
75-5-1113. Conditions on loans
75-5-1114. through 75-5-1120 reserved
75-5-1121. Authorization of bonds -- allocation of proceeds
75-5-1123. through 75-5-1125 reserved
75-5-1126. Projects funded by federal government appropriations