Montana Code > Title 17 > Chapter 5 > Part 3 – Refunding Bonds


§ 17-5-301	Refunding bonds or debentures authorized — interest rate
§ 17-5-302	Character of bonds
§ 17-5-303	Application of refunding bond law
§ 17-5-304	Cost and expense of refunding
§ 17-5-305	Sale of bonds and debentures

Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{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