Montana Code 69-3-1620. Effect of other laws
69-3-1620. Effect of other laws. (1) If any provision of this part conflicts with any other law regarding the attachment, assignment, perfection, effect of perfection, or priority of any security interest in or transfer of Montana energy impact assistance property, the provisions of this part govern.
Terms Used In Montana Code 69-3-1620
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- commission: means the public service commission provided for in 2-15-2602. See Montana Code 69-1-101
- Financing order: means an order issued by the commission in accordance with 69-3-1606 that grants, in whole or in part, an application filed pursuant to 69-3-1605 authorizing the issuance of Montana energy impact assistance bonds in one or more series, the imposition, charging, and collection of Montana energy impact assistance charges, and the creation of Montana energy impact assistance property. See Montana Code 69-3-1603
- Montana energy impact assistance bonds: means low-cost corporate securities, including but not limited to senior secured bonds, debentures, notes, certificates of participation, certificates of beneficial interest, certificates of ownership, or other evidences of indebtedness or ownership that have a scheduled maturity of no longer than 30 years and a final legal maturity date that is not later than 32 years from the issue date, that are rated AA or Aa2 or better by a major independent credit rating agency at the time of issuance, and that are issued by an electric utility or an assignee pursuant to a financing order. See Montana Code 69-3-1603
- Montana energy impact assistance property: means :
(a)all rights and interests of an electric utility or successor or assignee of an electric utility under a financing order for the right to impose, bill, collect, and receive Montana energy impact assistance charges as it is authorized to do solely under the financing order and to obtain periodic adjustments to the Montana energy impact assistance charges as provided in the financing order; and
(b)all revenue, collections, claims, rights to payments, payments, money, or proceeds arising from the rights and interests specified in subsection (14)(a), regardless of whether the revenue, collections, claims, rights to payment, payments, money, or proceeds are imposed, billed, received, collected, or maintained together with or commingled with other revenue, collections, rights to payment, payments, money, or proceeds. See Montana Code 69-3-1603
(2)Nothing in subsection (1) precludes a utility for which the commission has initially issued a financing order from applying to the commission for:
(a)a subsequent financing order amending the financing order as authorized by 69-3-1607(4); or
(b)approval of the issuance of Montana energy impact assistance bonds to refund all or a portion of an outstanding series of Montana energy impact assistance bonds.