90-7-319. Maintenance of capital reserve account
90-7-319. Maintenance of capital reserve account. (1) In order to ensure the maintenance of the capital reserve account, the presiding officer of the authority shall, on or before September 1 in each year preceding the convening of the legislature, deliver to the governor a certificate stating the sum, if any, required to restore the capital reserve […]
90-7-320. Loans — purchase of bonds and notes
90-7-320. Loans — purchase of bonds and notes. Subject to the provisions of Title 17, chapter 6, the board of investments may, upon terms and conditions as the board considers reasonable: (1) loan money to the authority for deposit in the capital reserve account; and (2) purchase bonds and notes issued by the authority. History: En. Sec. 5, Ch. […]
90-7-313. through 90-7-316 reserved
90-7-313 through 90-7-316 reserved.
90-7-317. Capital reserve account
90-7-317. Capital reserve account. (1) There is a capital reserve account in the enterprise fund provided for in 90-7-202(17). (2) The authority shall deposit into the capital reserve account: (a) funds from state appropriations received for deposit into the account, as provided in 90-7-319, for bonds issued to finance capital projects for community health facilities that contract with […]
90-7-318. Administration of capital reserve account
90-7-318. Administration of capital reserve account. (1) The authority may pledge funds from the capital reserve account or a subaccount created in the capital reserve account as security for the payment of bonds and notes issued by the authority, as it may determine in the resolutions or indentures providing for their issuance. (2) All funds held in […]
90-7-304. Security of bondholders
90-7-304. Security of bondholders. (1) The payment of the principal of and interest on any bonds issued under this chapter must be secured by a pledge of the revenue out of which the bonds are made payable. (2) The principal of and interest on any bonds issued under the authority of this part may be secured by: […]
90-7-305. Trust agreement to secure bonds
90-7-305. Trust agreement to secure bonds. In the discretion of the authority, any bonds issued under this chapter may be secured by a trust agreement between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company in Montana or outside of Montana, if it is […]
90-7-306. Trust funds
90-7-306. Trust funds. All money received pursuant to this chapter, whether as proceeds from the sale of bonds, notes, or other obligations or as revenue or receipts, are trust funds to be held and applied solely as provided in this chapter. Any officer with whom or any bank or trust company with which such money is […]
90-7-307. Conveyance of title
90-7-307. Conveyance of title. When the principal and interest on bonds issued by the authority to finance the cost of eligible facilities or to refinance outstanding indebtedness of one or more participating institutions, including any refunding bonds issued to refund and refinance bonds, have been fully paid and retired or when adequate provision has been made […]
90-7-308. through 90-7-310 reserved
90-7-308 through 90-7-310 reserved.