Administrative Rules of Montana
Department 36 - NATURAL RESOURCES AND CONSERVATION
Chapter 36.23 - DRINKING WATER STATE REVOLVING FUND ACT
Subchapter 36.23.1 - Financial Assistance
Rule 36.23.110 - GENERAL OBLIGATION BONDS
Universal Citation: MT Admin Rules 36.23.110
Current through Register Vol. 6, March 22, 2024
(1) The department may accept general obligation bonds issued by a municipality, upon the following terms:
(a) the bond will not
cause the municipality to exceed its statutory indebtedness
limitation;
(b) all statutory
requirements for the issuance of such bonds shall have been met prior to the
issuance of the bonds; and
(c) the
election authorizing the issuance of the bonds has been conducted by the date
of a binding commitment unless such requirement is waived by the
department.
(2) The department may accept general obligation bonds issued by county water and sewer districts upon the following terms:
(a) all
statutory requirements for the issuance of such bonds shall have been met prior
to the issuance of the bonds; and
(b) the election authorizing the issuance of
the bonds has been conducted by the date of a binding commitment unless such
requirement is waived by the department.
75-6-205, MCA; IMP, 75-6-222, MCA;
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