Montana Code 7-6-1112. Funds for payment of principal and interest
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7-6-1112. Funds for payment of principal and interest. For the purpose of providing funds for the payment of principal of and interest on gross proceeds obligations or short-term obligations, the governing body may authorize the creation of a special fund or funds and provide for the payment from authorized sources to such funds of amounts sufficient to meet principal and interest requirements.
Terms Used In Montana Code 7-6-1112
- Governing body: means the legislative authority of a local government, by whatever name designated. See Montana Code 7-6-1101