85-7-1951. United States contracts -- loans, sinking fund, and investment. The board of commissioners of any irrigation district established and organized under and by virtue of the laws of Montana, whenever deemed advisable and to the interest of the district, shall have the power and authority to enter into any obligation or contract with the United States under any act of congress and the rules and regulations established thereunder, providing for or permitting such obligation or contract, for the purpose of obtaining from the United States a loan of money to be used by the district for the liquidation of bonded or other outstanding indebtedness of the district or for doing or causing to be done, under the supervision of the secretary of the interior of the United States, any construction, betterments, or repair work necessary to place the irrigation system of the district in good operating condition. The board shall also have the power and authority to create, by proper levy and collection of assessments, a sinking fund which shall be available for the construction of betterments to the irrigation system of the district, as may become necessary during the term of any contract made hereunder. Said sinking fund for said purpose, which shall be designated the ".... District Sinking Fund for Betterments", shall be in such an amount and shall be created within such time as may be agreed upon between the district and the United States. The board shall also have the power and authority to invest any surplus in the sinking fund herein provided for in legal investments backed, insured, or guaranteed by the United States or the state of Montana, including federal and state agency obligations.
History: En. Sec. 1, Ch. 24, L. 1931; re-en. Sec. 7264.10, R.C.M. 1935; R.C.M. 1947, 89-2120; amd. Sec. 1, Ch. 166, L. 1987.
Structure Montana Code Annotated
Chapter 7. Irrigation Districts
Part 19. Operation of Districts
85-7-1901. Board plan for acquisition and construction
85-7-1902. Management of district by board
85-7-1903. Entry upon land by board or agent
85-7-1904. Acquisition of water and waterworks by board
85-7-1905. Board agreements for joint operations or cooperation
85-7-1906. Relations with United States
85-7-1907. Board power to provide sufficient water
85-7-1908. Board powers over district property
85-7-1909. Rights-of-way for irrigation works
85-7-1910. Board power to dispose of district property
85-7-1911. Apportionment of water by board
85-7-1912. Exchange of water by board
85-7-1913. Board to maintain records
85-7-1914. Board to file annual report
85-7-1915. through 85-7-1920 reserved
85-7-1921. Distribution system defined
85-7-1922. Regulation, supervision, apportionment, and control of water distribution
85-7-1924. Interference with commissioners or distribution system -- penalty
85-7-1925. Installing and assessing costs of distributing or measuring devices
85-7-1926. through 85-7-1930 reserved
85-7-1931. Use of water for irrigation a public use
85-7-1932. Noninterference with navigation or water rights
85-7-1933. Diversion of waters
85-7-1934. Lands under irrigation -- inclusion in district
85-7-1935. Lands under irrigation -- limits on charges for costs
85-7-1936. through 85-7-1940 reserved
85-7-1942. Competitive bidding
85-7-1943. Exceptions for certain projects
85-7-1944. through 85-7-1950 reserved
85-7-1951. United States contracts -- loans, sinking fund, and investment
85-7-1952. United States contracts -- assessments
85-7-1953. Amount owed United States -- lien and special tax
85-7-1954. Assumption of operations by United States upon default
85-7-1955. Liquidation of indebtedness with federal funds
85-7-1956. Majority vote or petition necessary to contract with United States
85-7-1957. United States contracts -- court approval required
85-7-1958. Power to contract with United States cumulative
85-7-1959. and 85-7-1960 reserved
85-7-1962. through 85-7-1970 reserved
85-7-1971. Contracts with the state of Montana -- loans, sinking fund, and investments
85-7-1972. State contracts -- assessments
85-7-1973. Amount owed state -- lien and special tax
85-7-1974. Majority vote or petition necessary to contract with the state