Montana Code 85-7-1432. Presumptions of validity of bonds
85-7-1432. Presumptions of validity of bonds. (1) Bonds bearing the signatures of officers in office on the date of the signing of the bonds are valid obligations, notwithstanding that before the delivery of the bonds and payment for the bonds, any of the persons whose signatures appear on the bonds have ceased to be officers.
Terms Used In Montana Code 85-7-1432
- 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.
- Undertaking: means any one or a combination of the following:
(a)water sources, water rights, irrigation canals, irrigation systems, including pumping facilities or gravity measure systems, reservoirs, reservoir sites, or small power production facilities that are:
(i)certified as such by the federal energy regulatory commission; and
(ii)are associated with federal reclamation projects;
(b)any real or personal property or water rights related to or necessary to provide, operate, and maintain an undertaking listed in subsection (4)(a). See Montana Code 85-7-1402
(2)The validity of the bonds is not dependent on the validity or regularity of any proceedings relating to the acquisition, construction, or improvement of the undertaking for which the bonds are issued.
(3)The resolution authorizing the bonds may provide that the bonds must contain a recital that they are issued pursuant to this part, which recital is conclusive evidence of their validity and of the regularity of the issuance.