90-5-109. Cost of projects. The cost of acquiring or improving any project shall be deemed to include the following:

Terms Used In Montana Code 90-5-109

  • 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
  • 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
  • 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

(1)the actual cost of acquiring or improving real estate for any project;

(2)the actual cost of construction of all or any part of a project which may be constructed, including architects’ and engineers’ fees;

(3)all expenses in connection with the authorization, sale, and issuance of the bonds to finance such acquisition or improvement;

(4)bond reserves and premiums for insurance of lease rentals pledged to pay the bonds; and

(5)the interest on such bonds for a reasonable time prior to construction, during construction, and for not exceeding 6 months after completion of construction.