Montana Code 60-11-123. Disposition of revenue from state-owned railroads — use of money
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60-11-123. Disposition of revenue from state-owned railroads — use of money. (1) Unless otherwise required by law, revenue from the lease or sale of assets of or revenue paid to the state of Montana by an operator of a railroad owned by the state of Montana must be deposited in the state general fund.
Terms Used In Montana Code 60-11-123
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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
(2)The department of transportation is authorized to administer, as provided in 60-11-120 through 60-11-123, funding available to provide for improvement of railroad tracks and associated facilities of any state-owned railroad in Montana and to provide loans and grants to railroad lines and intermodal transportation facilities as provided in 60-11-120.