90-5-104. Hearing. (1) Prior to the issuance of any bonds under the authority of this part by any municipality or county to pay the costs of acquiring or improving a project, the governing body shall give notice and hold a public hearing on the proposed project. At least once a week for 3 consecutive weeks prior to the date set for the hearing, the governing body shall publish in a newspaper of general circulation in the municipality or county a notice of the time and place of the hearing, the general nature of the project, the name of the lessee, borrower, or user of the project, and the estimated cost of the project. The governing body may not issue the bonds to pay the costs of acquiring or improving a project unless it appears after the public hearing that the acquisition or improvement of the project is in the public interest of the municipality or county.

Terms Used In Montana Code 90-5-104

  • Bonds: means bonds, refunding bonds, notes, or other obligations issued by a municipality or county under the authority of this part, including without limitation short-term bonds or notes issued in anticipation of the issuance of long-term bonds or notes. See Montana Code 90-5-101
  • Governing body: means the board or body in which the general legislative powers of the municipality or county are vested. See Montana Code 90-5-101
  • Municipality: means any incorporated city or town in the state. See Montana Code 90-5-101
  • Project: means :

    (a)any land, any building or other improvement, and any other real or personal property considered necessary in connection with the improvement, whether or not now in existence, that must be suitable for use for commercial, manufacturing, agricultural, or industrial enterprises;

    (b)recreation or tourist facilities;

    (c)local, state, and federal governmental facilities;

    (d)multifamily housing, hospitals, long-term care facilities, community-based facilities for individuals who are persons with developmental disabilities as defined in 53-20-102, or medical facilities;

    (e)higher education facilities;

    (f)electric energy generation facilities;

    (g)family services provider facilities;

    (h)any facilities that are used or considered necessary to create or produce any intangible item, as defined in section 197(d)(1)(C)(iii) of the Internal Revenue Code, 26 U. See Montana Code 90-5-101

(2)The provisions of subsection (1) do not apply to refunding bonds issued under 90-5-107 to refund bonds issued to pay the costs of acquiring or improving a project as to which a hearing was held under subsection (1).