Montana Code 7-7-2212. Citizen bonds authorized
7-7-2212. Citizen bonds authorized. (1) A county authorized to sell general obligation bonds under this chapter may issue and sell a portion of the bonds in denominations of less than $5,000 by:
Terms Used In Montana Code 7-7-2212
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(a)competitive public sale, directly to members of the public, at preestablished interest rates; or
(b)private sale pursuant to 17-5-107.
(2)Bonds issued under 7-7-2212 through 7-7-2215 may be known as “citizen bonds”.
(3)Citizen bonds may be issued for any purpose for which a county may issue general obligation bonds.
(4)An officer, employee, contracted financial consultant, or contracted adviser employed or retained by a county selling citizen bonds may not purchase those bonds.