Montana Code 7-12-2169. Use of bonds and warrants
7-12-2169. Use of bonds and warrants. All costs and expenses incurred in any improvement district in the acquisition, construction, or maintenance of any improvement specified in this part or incurred in the issuance of bonds or warrants of the district, including incidental expenses, shall be paid for by special improvement district bonds or warrants. The board of county commissioners shall provide for making payments for maintenance or improvements in any rural improvement district by the method provided in 7-12-2172 and 7-12-2173.
Terms Used In Montana Code 7-12-2169
- board of county commissioners: includes any body or board that under the law is the legislative department of the government of the county. See Montana Code 7-12-2101
- improvements: as used in this part , include all work or the securing of property, by purchase or otherwise, mentioned in this part and also the construction, reconstruction, maintenance, and repair of any portion of the work. See Montana Code 7-12-2101
- incidental expenses: as used in this part , includes:
(a)the compensation of the engineer for work done;
(b)the cost of printing and advertising, as provided in this part;
(c)interest on warrants of the county issued to pay costs of improvements, as provided in this part;
(d)costs of issuance of the bonds or warrants of the special improvement district, including costs of printing the bonds, bond registration fees, attorney fees and financial consultants' fees, a premium for bond insurance, any price paid by the original purchaser of the bonds that is less than the face amount of the bonds, and interest to accrue on bonds or warrants of the special improvement district before assessments levied by the district are collected in amounts and at times sufficient to pay the interest; and
(e)a reasonable administrative fee payable to the county for the creation and administration of the district by the county, its officers, and its employees. See Montana Code 7-12-2101