90-7-311. Pledge of state not to impair -- to administer. In accordance with the constitutions of the United States and the state of Montana, the state pledges that it will not in any way impair the obligations of any agreement between the authority and the holders of notes and bonds issued by the authority, including but not limited to an agreement to administer a loan program financed by the issuance of bonds, and to employ a staff sufficient and competent for this purpose.
History: En. Sec. 24, Ch. 703, L. 1983.
Structure Montana Code Annotated
Title 90. Planning, Research, and Development
Chapter 7. Facility Finance Authority
90-7-302. Bonds and notes of authority
90-7-303. Procedure for issuance of bonds
90-7-304. Security of bondholders
90-7-305. Trust agreement to secure bonds
90-7-308. through 90-7-310 reserved
90-7-311. Pledge of state not to impair -- to administer
90-7-312. Pledge of revenue, money, or property -- validity
90-7-313. through 90-7-316 reserved
90-7-317. Capital reserve account
90-7-318. Administration of capital reserve account