Montana Code 7-7-4430. Presumptions of validity of bonds
7-7-4430. Presumptions of validity of bonds. (1) Said bonds bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor, any or all the persons whose signatures appear thereon shall have ceased to be officers of the municipality issuing the same.
Terms Used In Montana Code 7-7-4430
- Dependent: A person dependent for support upon another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Municipality: means a city or town, however organized. See Montana Code 7-7-4402
- Undertaking: means one or a combination of the following:
(a)water and sewer systems, together with all parts of the systems and appurtenances to the systems, including but not limited to supply and distribution systems, reservoirs, dams, and sewage treatment and disposal works;
(b)public airport construction and public airport building;
(c)convention facilities;
(d)public recreation facilities;
(e)streets and roads;
(f)public parking facilities, solid waste management systems, or other revenue-producing facilities and services authorized for cities and towns; and
(g)public transportation systems, including passenger buses, trolleys, passenger trains and lines, light rail trains and lines, and the facilities associated with those systems. See Montana Code 7-7-4402
(2)The validity of said bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of the undertaking for which said bonds are issued.
(3)The resolution authorizing said bonds may provide that the bonds shall contain a recital that they are issued pursuant to this part, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.