Montana Code 85-9-604. Collection and investment of assessments
85-9-604. Collection and investment of assessments. (1) The treasurer of each county in which the district is located shall collect special assessments at the same time and in the same way as county taxes.
Terms Used In Montana Code 85-9-604
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Directors: means the board of directors of a conservancy district. See Montana Code 85-9-103
- District: means a conservancy district. See Montana Code 85-9-103
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- 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
- United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)If the district is located in more than one county, all assessments collected must be deposited with the treasurer of the county in which the assessments were collected.
(3)The directors shall direct the county treasurer to invest any surplus district funds in saving or time deposits in a state or national bank, savings and loan association, or credit union insured by the federal deposit insurance corporation or the national credit union administration or to invest in direct obligations of the United States government payable within 180 days from the time of investment. All interest collected on the deposits or investments must be credited to the fund from which the money was withdrawn. However, 5% of the interest must be deposited in the general fund of the county.