Terms Used In Montana Code 7-7-2209

• Amortization: Paying off a loan by regular installments.
• amortization bonds: as used in this part , means that form of bond on which a part of the principal is required to be paid each time that interest becomes due and payable. See Montana Code 7-7-2210
• capital appreciation bonds: as used in this part , mean those forms of bonds that do not make periodic interest payments but, rather, are sold at a discount from their face value. See Montana Code 7-7-2215
• serial bonds: as used in this part , means a bond issue payable in annual installments of principal commencing not more than 2 years from the date of issue, any one installment consisting of one or more bonds, with the principal amount of bonds maturing or subject to mandatory sinking fund redemption in each installment, commencing with the installment payable in the fourth year after the date of issue, not exceeding three times the principal amount of the bonds payable in the immediately preceding installment. See Montana Code 7-7-2211