85-9-632. Revolving funds. (1) The directors by resolution may establish revolving funds to finance, on a reimbursable basis:
(a) construction, purchase, lease, and operation of revenue-producing works;
(b) contracts to provide services or facilities.
(2) Money in the revolving fund shall not be spent for any purposes other than those specified in the resolution. However, excess money may be transferred to any sinking and interest fund of the district.
(3) The county treasurer of the county having the largest portion of the taxable valuation of real property of the district shall maintain a separate account for each revolving fund of the district, and all money collected under the resolution shall be deposited with the county treasurer.
History: En. Sec. 37, Ch. 100, L. 1969; R.C.M. 1947, 89-3437.
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