Terms Used In Montana Code 20-9-341

• fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
• interest and income money: means the total of the following revenue, as provided for by Article X, section 5, of the 1972 Montana constitution:

  (a)95% of the interest received from the investment of the public school fund;

  (b)95% of the interest received from the investment of any other school funds held in trust by the state board of land commissioners;

  (c)95% of the income received from the leasing of or sale of timber from state school lands; and

  (d)95% of any other income derived from any other covenant affecting the use of state school lands. See Montana Code 20-9-341

• school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201