85-9-623. Issuance of bonds -- resolution and election. When the directors find it necessary to issue bonds, the directors shall:
(1) pass a resolution that includes:
(a) the purpose or purposes for which the bonds will be issued;
(b) the maximum amount and term of the bonds;
(c) the maximum interest rate that the bonds will bear; and
(d) whether the bonds will be repaid from revenue, assessments, or both;
(2) give notice in accordance with 7-1-2121 that must include the resolution adopted by the directors and the location of polling places unless the election is conducted by mail ballot, as provided in Title 13, chapter 19; and
(3) hold an election conducted in accordance with Title 13, chapter 1, part 5.
History: En. Sec. 28, Ch. 100, L. 1969; R.C.M. 1947, 89-3428; amd. Sec. 70, Ch. 387, L. 1995; amd. Sec. 15, Ch. 234, L. 1997; amd. Sec. 261, Ch. 49, L. 2015.
Structure Montana Code Annotated
Chapter 9. Conservancy Districts
85-9-602. Notice of public budget hearing
85-9-603. Directors to provide financial information
85-9-604. Collection and investment of assessments
85-9-605. through 85-9-610 reserved
85-9-612. through 85-9-620 reserved
85-9-621. Issuance of bonds -- term and multipurpose bonds
85-9-622. Issuance of bonds -- determination of amount
85-9-623. Issuance of bonds -- resolution and election
85-9-624. Issuance of bonds -- approval and assessments
85-9-625. Issuance of bonds -- details of sale
85-9-627. Interim receipts -- negotiability
85-9-628. Bond registration -- copy to county
85-9-629. Disposition and investment of sale proceeds