Administrative Rules of Montana
Department 8 - COMMERCE
Chapter 8.97 - BOARD OF INVESTMENTS
Subchapter 8.97.7 - Municipal Finance Consolidation Program
Rule 8.97.715 - DEFINITIONS

(1) "Act" means the Municipal Finance Consolidation Act of 1983 as set forth in Title 17, chapter 5, part 16, MCA.

(2) "Bond" means any bond or note issued by the board pursuant to Title 17, chapter 5, part 16, MCA.

(3) "Eligible government unit" means eligible government unit as defined in 17-5-1604(3), MCA.

(4) "INTERCAP revolving program" or "INTERCAP program" means the intermediate term capital program administered by the board pursuant to Title 17, chapter 5, part 16, MCA.

(5) "Loan agreement" means the agreement, including the exhibits attached thereto and the security instrument, if any, between the borrower and the board or the bond or note resolution of the eligible government unit, all as originally executed or from time to time supplemented, modified or amended in accordance with the terms of the agreement, or the resolution, respectively.

(6) "Obligation" means any bond, note or bond anticipation note issued by an eligible government unit and payable from taxes, funds, special assessments, revenues derived from an enterprise owned by the eligible government unit, or any combination thereof.

(7) "Program(s)" include, but are not limited to, the INTERCAP revolving loan program and other board programs developed pursuant to the Act.

(8) "Reserve fund" means the Municipal Finance Consolidation Act reserve fund, as defined in 17-5-1604, MCA, and created by the board pursuant to 17-5-1630, MCA.

(9) "Short term obligation" means any obligation with an actual or stated term of less than 12 months.