85-7-2041. Bankruptcy proceedings by irrigation districts. (1) The board of commissioners or directors of any irrigation district may, in the name and on behalf of such district, initiate and carry out proceedings for readjustment of the debts of such district, under Chapter IX of the federal Bankruptcy Act or similar provisions of any past or future federal bankruptcy act.
(2) This section is remedial in its nature and shall be liberally construed to effect its purpose, which is to permit irrigation districts to readjust their debts under federal bankruptcy acts and to confer upon the board of commissioners or directors thereof every power necessary therefor or reasonably incidental thereto.
History: En. Secs. 1, 2, Ch. 110, L. 1939; R.C.M. 1947, 89-1903(part), 89-1904.
Structure Montana Code Annotated
Chapter 7. Irrigation Districts
Part 20. Indebtedness, Bonds, and Bankruptcy
85-7-2001. Limitations on debt-incurring power
85-7-2002. through 85-7-2010 reserved
85-7-2011. Exemption of irrigation district property
85-7-2012. Purposes for which bonds may be issued
85-7-2013. Majority vote, petition, and protest requirements
85-7-2014. Procedure after election, petition, or resolution filed
85-7-2015. Effect of contracting with United States
85-7-2020. Details relating to bonds
85-7-2023. Notice of sale of bonds
85-7-2024. Issuance of bonds for direct contract payments
85-7-2025. Cancellation of unused bonds
85-7-2027. Disposition of bond proceeds
85-7-2028. through 85-7-2030 reserved
85-7-2031. Amending or supplementing United States contracts -- effect on indebtedness
85-7-2033. Private sale of bonds
85-7-2034. through 85-7-2040 reserved
85-7-2041. Bankruptcy proceedings by irrigation districts
85-7-2042. Levy of special taxes or assessments by resolution
85-7-2045. Right to protest levy of special taxes or assessments
85-7-2048. Resolution authorizing special taxes or assessments
85-7-2049. Adjournment of hearings on resolutions for special taxes or assessments
85-7-2050. Collection of special taxes or assessments by county treasurer -- delinquencies