85-7-1413. Authority to issue revenue bonds. An irrigation district may:
(1) issue its bonds to finance in whole or in part the acquisition, construction, or improvement of any undertaking; and
(2) pledge to the punctual payment of bonds issued under this part and interest thereon an amount of the revenue of the undertaking (including subsequent improvements or extensions) sufficient to pay the bonds and interest as they become due, and maintain reasonable reserves therefor.
History: En. Sec. 6, Ch. 193, L. 1987.
Structure Montana Code Annotated
Chapter 7. Irrigation Districts
Part 14. Irrigation District Revenue Bond Act
85-7-1404. through 85-7-1410 reserved
85-7-1411. Authority to acquire, construct, maintain, operate, and lease various undertakings
85-7-1413. Authority to issue revenue bonds
85-7-1414. Determination of cost
85-7-1415. Nature of revenue bonds
85-7-1416. Undertakings to be self-supporting
85-7-1417. Use of revenue from undertaking
85-7-1418. Authorization for undertaking and issuance of bonds
85-7-1419. Covenants in resolution authorizing issuance of bonds
85-7-1420. through 85-7-1430 reserved
85-7-1432. Presumptions of validity of bonds
85-7-1433. Liens arising from bonds
85-7-1434. Security interest in undertaking
85-7-1435. Details relating to revenue bonds