Montana Code 75-6-227. Creation of debt
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75-6-227. Creation of debt. The legislature, through enactment of this section, authorizes the creation of state debt in an amount not to exceed $50 million in principal amount of general obligation bonds outstanding from time to time for the purpose of:
Terms Used In Montana Code 75-6-227
- 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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(1)funding the drinking water program; and
(2)funding portions of loans on an interim basis pending receipt of:
(a)grant payments from the environmental protection agency for which federal legislation appropriating the proceeds of the grants has been enacted; or
(b)other revenue for the program.