85-7-1416. Undertakings to be self-supporting. (1) An issuer issuing bonds pursuant to this part shall collect reasonable fees for the services, facilities, and commodities of the undertaking and shall revise the fees from time to time so that the undertaking remains self-supporting.
(2) The fees prescribed must produce revenue at least sufficient to:
(a) pay when due all bonds and interest thereon for which the revenue is pledged, including reserves; and
(b) provide for all expenses of operation and maintenance of the undertaking, including reserves.
History: En. Sec. 9, 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