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. […]
90-8-101. Repealed
90-8-101. Repealed. Sec. 7, Ch. 9, L. 2011. History: En. Sec. 1, Ch. 554, L. 1983.
90-8-102. Repealed
90-8-102. Repealed. Sec. 7, Ch. 9, L. 2011. History: En. Sec. 2, Ch. 554, L. 1983; amd. Sec. 6, Ch. 124, L. 1987; amd. Sec. 82, Ch. 83, L. 1989; amd. Sec. 2, Ch. 263, L. 1991; amd. Sec. 15, Ch. 589, L. 1991.
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.
90-7-311. Pledge of state not to impair — to administer
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 […]
90-7-312. Pledge of revenue, money, or property — validity
90-7-312. Pledge of revenue, money, or property — validity. Any pledge made by the authority is valid and binding from the time the pledge is made. The revenue, money, or property pledged and received by the authority is immediately subject to the lien of the pledge without any physical delivery or further act. The lien of […]