Montana Code 85-9-632. Revolving funds
85-9-632. Revolving funds. (1) The directors by resolution may establish revolving funds to finance, on a reimbursable basis:
Terms Used In Montana Code 85-9-632
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Works: means all property, rights, easements, franchises, and other facilities, including but not limited to land, reservoirs, dams, canals, dikes, ditches, pumping units, mains, pipelines, waterworks systems, recreational facilities, facilities for fish and wildlife, and facilities to control and correct pollution. See Montana Code 85-9-103
(a)construction, purchase, lease, and operation of revenue-producing works;
(b)contracts to provide services or facilities.
(2)Money in the revolving fund shall not be spent for any purposes other than those specified in the resolution. However, excess money may be transferred to any sinking and interest fund of the district.
(3)The county treasurer of the county having the largest portion of the taxable valuation of real property of the district shall maintain a separate account for each revolving fund of the district, and all money collected under the resolution shall be deposited with the county treasurer.