Part 1 General Provisions Related to Local Governments § 7-7-101 – § 7-7-141
Part 21 General Provisions Related to Counties § 7-7-2101 – § 7-7-2112
Part 22 County General Obligation Bonds § 7-7-2201 – § 7-7-2275
Part 23 County Refunding General Obligation Bonds § 7-7-2301 – § 7-7-2316
Part 24 County Loans § 7-7-2401 – § 7-7-2407
Part 25 County Revenue Bonds § 7-7-2501
Part 41 General Provisions Related to Municipalities § 7-7-4101 – § 7-7-4113
Part 42 Municipal General Obligation Bonds § 7-7-4201 – § 7-7-4275
Part 43 Municipal Refunding General Obligation Bonds § 7-7-4301 – § 7-7-4316
Part 44 Municipal Revenue Bonds § 7-7-4401 – § 7-7-4435
Part 45 Municipal Refunding Revenue Bonds Option 1 § 7-7-4501 – § 7-7-4505
Part 46 Municipal Refunding Revenue Bonds Option 2 § 7-7-4601 – § 7-7-4633

Terms Used In Montana Code > Title 7 > Chapter 7

  • Account: means the nongame wildlife account established in 87-5-121. See Montana Code 87-5-102
  • Account: means the Montana land information account created in 90-1-409. See Montana Code 90-1-403
  • Act: means the Montana Growth Through Agriculture Act. See Montana Code 90-9-103
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affected local government unit: means a local government unit that will experience a need to increase services or facilities as a result of the commencement of large-scale mineral development or within which a large-scale mineral development is located in accordance with an impact plan adopted pursuant to 90-6-307. See Montana Code 90-6-402
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agricultural business: means an enterprise engaged in the production, processing, marketing, distribution, or exporting of agricultural products. See Montana Code 90-9-103
  • Alternative livestock: means a privately owned caribou, white-tailed deer, mule deer, elk, moose, antelope, mountain sheep, or mountain goat indigenous to the state of Montana, a privately owned reindeer, or any other cloven-hoofed ungulate as classified by the department. See Montana Code 87-4-406
  • Alternative livestock ranch: means the enclosed land area upon which alternative livestock may be kept for purposes of obtaining, rearing in captivity, keeping, or selling alternative livestock or parts of alternative livestock, as authorized under this part. See Montana Code 87-4-406
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • amortization bonds: as used in this part , means that form of bond on which a part of the principal is required to be paid each time that interest becomes due and payable. See Montana Code 7-7-2210
  • amortization bonds: as used in this part , means that form of bond on which a part of the principal is required to be paid each time that interest becomes due and payable. See Montana Code 7-7-4209
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the Montana facility finance authority created in 2-15-1815. See Montana Code 90-7-102
  • Authority: means a county weather modification authority established pursuant to 85-3-411 or 85-3-413 through 85-3-415. See Montana Code 85-3-401
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Bird hunting dog: means a dog trained or being trained to point, flush, or retrieve game birds. See Montana Code 87-3-601
  • Board: means the fish, wildlife, and parks crimestoppers board created in 2-15-3404. See Montana Code 87-5-602
  • Board: means the board of examiners provided for in 2-15-1007. See Montana Code 90-4-602
  • Board: means the board of housing created in 2-15-1814. See Montana Code 90-6-103
  • Board: means the hard-rock mining impact board established in 2-15-1822. See Montana Code 90-6-402
  • Board: means the board of housing provided for in 2-15-1814. See Montana Code 90-6-602
  • Board of supervisors: means the board of supervisors of the soil and water conservation district in which the largest portion of the taxable valuation of real property of the proposed district is located. See Montana Code 85-9-103
  • Bond: means any bonds, notes, debentures, interim certificates, or other evidences of financial indebtedness issued by the board pursuant to this part, including those on which interest payments are taxable and those on which interest payments are tax exempt. See Montana Code 90-6-103
  • 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
  • Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
  • capital appreciation bonds: as used in this part , mean those forms of bonds that do not make periodic interest payments but, rather, are sold at a discount from their face value. See Montana Code 7-7-2215
  • Capital reserve account: means the account established in 90-7-317. See Montana Code 90-7-102
  • Capital reserve account: means the capital reserve account provided for in 90-6-107. See Montana Code 90-6-103
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Cloven-hoofed ungulate: means an animal of the order Artiodactyla, except a member of the families suidae, camelidae, or hippopotamidae. See Montana Code 87-4-406
  • Commercial purposes: means the collection, harvest, possession, or transportation of a species or subspecies of nongame wildlife from the wild with the intent to barter, offer for sale, ship or transport for eventual sale, or sell the animal or any part of the animal. See Montana Code 87-5-102
  • Commission: means the commission on community service appointed by the governor to assist in implementation of this part. See Montana Code 90-14-102
  • Commissioner: means a county weather modification authority commissioner appointed pursuant to 85-3-411 or 85-3-413 through 85-3-415. See Montana Code 85-3-401
  • Committee: means the natural resource data system advisory committee created by 2-15-1514. See Montana Code 90-15-102
  • Committee on committees: Committees formed in each party conference and responsible for nominating the party's Senators to committee membership and committee leadership positions. Nominations are subject to approval by the full party conference and to a formal vote of the Senate.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Community service: means any kind of public service that provides a benefit to the state of Montana, any of its political subdivisions, or a tribal government or that benefits disadvantaged or low-income persons, disabled persons, or senior citizens of Montana. See Montana Code 90-14-102
  • Company: means a natural person, firm, partnership, corporation, association, or other entity authorized to conduct business in the state. See Montana Code 90-9-103
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Cost: includes the expenses related to planning, design, construction, and installation of energy conservation improvements and any administrative expenses of the department incurred in the performance of its duties under the energy conservation program. See Montana Code 90-4-602
  • Cost of works: means the cost of construction, acquisition, improvement, extension, and development of works, including financing charges, interest, and professional services. See Montana Code 85-9-103
  • cost-effectiveness: means that the sum of guaranteed cost savings and unguaranteed energy cost savings attributable to utility unit price escalation is equal to or greater than:

    (a) the energy performance contract financing repayment obligation, if any, each year of a finance term;

    (b) the total project cost of the cost-saving measures implemented divided by 20; or

    (c) the total project cost of the cost-saving measures implemented divided by the cost-weighted average useful life of the cost-saving measures. See Montana Code 90-4-1102

  • Cost-saving measure: means a facility improvement, repair, or alteration or equipment, fixtures, or furnishings added to or used in a facility and designed to reduce energy or water consumption or operation and maintenance costs. See Montana Code 90-4-1102
  • Costs: means costs allowed under 90-7-103. See Montana Code 90-7-102
  • Council: means the Montana agriculture development council established in 2-15-3015. See Montana Code 90-9-103
  • Council: means the wildlife habitat improvement advisory council established in 87-5-803. See Montana Code 87-5-802
  • Council: means the land information advisory council established in 90-1-405. See Montana Code 90-1-403
  • Court: means the district court of the judicial district in which the largest portion of the taxable valuation of real property of the proposed district is located and within the county in which the largest portion of the taxable valuation of real property of the proposed district is located within the judicial district. See Montana Code 85-9-103
  • Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
  • Cross examine: Questioning of a witness by the attorney for the other side.
  • Customary: means according to usage. See Montana Code 1-1-206
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the department of natural resources and conservation provided for in Title 2, chapter 15, part 33. See Montana Code 85-9-103
  • Department: means the department of natural resources and conservation provided for in Title 2, chapter 15, part 33. See Montana Code 85-25-101
  • Department: means the department of agriculture established in 2-15-3001. See Montana Code 90-9-103
  • Department: means the department of fish, wildlife, and parks. See Montana Code 87-4-406
  • Department: means the department of fish, wildlife, and parks. See Montana Code 87-5-602
  • Department: means the department of fish, wildlife, and parks established in 2-15-3401. See Montana Code 87-5-802
  • Department: means the department of commerce provided for in 2-15-1801. See Montana Code 90-1-201
  • Department: means the department of natural resources and conservation provided for in Title 2, chapter 15, part 33. See Montana Code 90-2-1103
  • Department: means the department of environmental quality provided for in 2-15-3501. See Montana Code 90-4-602
  • Department: means the department of environmental quality provided for in 2-15-3501. See Montana Code 90-4-1102
  • Department: means the department of commerce provided for in Title 2, chapter 15, part 18. See Montana Code 90-6-103
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Director: means the person appointed by the governor as the community service director to administer and coordinate the provisions of this part. See Montana Code 90-14-102
  • Directors: means the board of directors of a conservancy district. See Montana Code 85-9-103
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • District: means a conservancy district. See Montana Code 85-9-103
  • Docket: A log containing brief entries of court proceedings.
  • Donor: The person who makes a gift.
  • Economic development organization: means :

    (i) (A) a private, nonprofit corporation, as provided in Title 35, chapter 2, that is exempt from taxation under section 501(c)(3) or 501(c)(6) of the Internal Revenue Code, 26 U. See Montana Code 90-1-201

  • Educational loan: means a loan made pursuant to a federal loan program, except for a federal parent loan for undergraduate students (PLUS) loan, as provided in 20 U. See Montana Code 90-9-103
  • Educational loan servicer: means an entity that engages for compensation or gain from another or on its own behalf, in the business of:

    (a) receiving any scheduled periodic payments from a borrower pursuant to the terms of an educational loan;

    (b) applying the payments of principal and interest and other payments with respect to the amounts received from a borrower, as may be required pursuant to the terms of an educational loan; and

    (c) performing other administrative services with respect to an educational loan. See Montana Code 90-9-103

  • Elector: means a person qualified to vote under 85-9-421. See Montana Code 85-9-103
  • Eligible facility: means any eligible facility as defined in 90-7-104. See Montana Code 90-7-102
  • Eligible veteran: means an individual who is a Montana resident and who:

    (a) is or has been a member of the Montana national guard;

    (b) is or has been a member of the federal reserve forces of the armed forces of the United States, serving pursuant to Title 10 of the United States Code;

    (c) is serving or has served on federal active duty pursuant to Title 10 of the United States Code;

    (d) is an unremarried spouse of an individual who was otherwise an eligible veteran and was killed in the line of duty;

    (e) is an eligible veteran as defined by the board pursuant to 90-6-605(2); or

    (f) if previously a member of the armed forces, was discharged under honorable conditions. See Montana Code 90-6-602

  • Employee benefits: means health, welfare, and pension contributions that meet the requirements of the Employee Retirement Income Security Act of 1974, 29 U. See Montana Code 90-1-201
  • Employee-owned enterprise: means a business corporation that:

    (a) requires that at least a majority of its employees:

    (i) are vested with stock in the enterprise and all of whose vested employees are entitled to vote; and

    (ii) own a majority of the shares which must be voted so that the vote of a majority of the employees control the vote of a majority of shares;

    (b) requires that voting rights on corporate matters for shares held in trust for the employees pass through to those employees at least to the extent required by the voting requirements of section 409(e) of the Internal Revenue Code of 1986, as amended;

    (c) provides vested employees the right to vote on corporate matters, including merger, consolidation, recapitalization, reclassification, liquidation, dissolution, or sale; and

    (d) requires that at least a majority of the members of the board of directors is elected by the employees of the enterprise. See Montana Code 90-5-303

  • Endangered species: means a species or subspecies of wildlife that is actively threatened with extinction due to any of the following factors:

    (a) the destruction, drastic modification, or severe curtailment of its habitat;

    (b) its overutilization for scientific, commercial, or sporting purposes;

    (c) the effect on it of disease, pollution, or predation;

    (d) other natural or artificial factors affecting its prospects of survival or recruitment within the state; or

    (e) any combination of the foregoing factors. See Montana Code 87-5-102

  • Energy conservation program: means a program for the financing, acquisition, construction, and installation of alternative energy systems, as defined in 15-32-102, or equipment, systems, and improvements in state-owned buildings, structures, and facilities that save energy or water. See Montana Code 90-4-602
  • Energy conservation program bonds: includes all series of bonds issued to finance any portion of the energy conservation program. See Montana Code 90-4-602
  • Energy cost savings: means the savings in utility costs to a state agency as a result of an energy conservation program. See Montana Code 90-4-602
  • Energy performance contract: means a cost-effective contract between a governmental entity and a qualified energy service provider for implementation of one or more cost-saving measures and guaranteed cost savings. See Montana Code 90-4-1102
  • Enterprise: means any work, undertaking, or project that the municipality is authorized to construct and from which the municipality derives revenue for the refinancing or the refinancing and improving of which enterprise refunding bonds are issued under this part. See Montana Code 7-7-4602
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Facilities: means perimeter fences and other enclosures that provide for the confinement, handling, and quarantine of alternative livestock. See Montana Code 87-4-406
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Family services provider: means organizations, including nonprofit corporations, that provide human services for children and adults, including but not limited to early care services for children, youth services, health services, social services, habilitative services, rehabilitative services, preventive care, and supportive services, and training, educational, and referral activities in support of human services. See Montana Code 90-5-101
  • Farmer: means a person who:

    (a) is engaged in agricultural activities, including ranching, at a farm;

    (b) participates in the day-to-day operations of a farm; and

    (c) is the primary owner of an agricultural operation, including an heir, a successor, or an assignee of the operation. See Montana Code 90-9-103

  • Federal loan program: has the meaning provided in 20-4-502. See Montana Code 90-9-103
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Federally insured mortgage: means a mortgage loan for land development or residential housing insured or guaranteed by the United States or a governmental agency or instrumentality of the United States or a commitment by the United States or a governmental agency or instrumentalities of the United States to insure a mortgage. See Montana Code 90-6-103
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Field trial: means an organized event affiliated with a national organization to examine, evaluate, or test the ability of bird hunting dogs to point, flush, or retrieve game birds. See Montana Code 87-3-601
  • Finance term: means the length of time for repayment of funds borrowed for an energy performance contract. See Montana Code 90-4-1102
  • Financially feasible: means that adequate funds are available to complete the project as approved. See Montana Code 90-2-1103
  • First-time home buyer: means an individual determined by the board to be a first-time home buyer pursuant to rules adopted by the board. See Montana Code 90-6-602
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Game animals: means game animals, as defined in 87-2-101, that are not the lawful property of any private person. See Montana Code 87-4-406
  • Game bird: means a bird defined as an upland game bird or migratory game bird in 87-2-101. See Montana Code 87-3-601
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • GIS: means an organized collection of computer hardware, software, land information, and other resources, including personnel, that is designed to or assists to efficiently collect, maintain, and disseminate all forms of geographically referenced information. See Montana Code 90-1-403
  • Governing body: means a body or board that has charge of finances and management of a municipality. See Montana Code 7-7-4402
  • Governing body: means , in the case of a city or town, the council, commission, or other body, board, officer, or officers having charge of the finances of the city or town. See Montana Code 7-7-4602
  • 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
  • Governmental agency: means any department, division, public corporation, public agency, political subdivision, or other public instrumentality of the state, the federal government, any other state or public agency, or any two or more of the entities listed in this subsection. See Montana Code 90-6-103
  • Governmental entity: means :

    (a) a department, board, commission, institution, or branch of state government;

    (b) a county, consolidated city-county government, city, town, or school district;

    (c) a special district, as defined in 2-2-102;

    (d) the university system or a unit of the university system; or

    (e) a community college district. See Montana Code 90-4-1102

  • Grantor: The person who establishes a trust and places property into it.
  • Guarantee period: means the period of time from the effective date of the contract until guaranteed cost savings are achieved in accordance with 90-4-1114(5). See Montana Code 90-4-1102
  • Guaranteed cost savings: means a guaranteed annual measurable monetary reduction in utility and operating and maintenance costs for each year of a guarantee period resulting from cost-saving measures. See Montana Code 90-4-1102
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
  • High-poverty county: means a county in this state that has a poverty rate greater than Montana's average poverty rate as determined by the U. See Montana Code 90-1-201
  • Housing development: means single-family homes, multifamily projects, housing for the elderly projects, nursing home projects, personal-care projects, and any work or undertaking financed in whole or in part under this part for the primary purpose of acquiring, constructing, or rehabilitating accommodations for persons or families of lower income in need of housing. See Montana Code 90-6-103
  • Housing development costs: means the sum total of all costs incurred in a housing development approved by the board as reasonable and necessary, including but not limited to:

    (a) cost of land acquisition and any buildings on the land, including payments for options, deposits, or contracts to purchase properties on the proposed housing development site or payments for the purchase of properties;

    (b) cost of site preparation, demolition, and clearing;

    (c) architectural, engineering, legal, accounting, corporation, and other fees paid or payable in connection with the planning, execution, and financing of the housing development and the finding of an eligible mortgagee or mortgagees for the housing development;

    (d) cost of necessary studies, surveys, plans, and permits;

    (e) insurance, interest, financing, tax and assessment costs, and other operating and carrying costs during construction;

    (f) cost of construction, rehabilitation, reconstruction, fixtures, furnishings, equipment, machinery, apparatus, and similar facilities related to the real property;

    (g) cost of land improvements, including landscaping and offsite improvements, whether or not the costs have been paid in cash or in a form other than cash;

    (h) necessary expenses in connection with initial occupancy of the housing development;

    (i) a reasonable profit and risk fee in addition to job overhead to the general contractor and, if applicable, a limited-profit housing sponsor;

    (j) an allowance established by the board for working capital and contingency reserves and reserves for any anticipated operating deficits during construction and initial occupancy;

    (k) cost of other items, including tenant relocation, that the board determines to be reasonable and necessary for the housing development, less any net rents and other net revenue received from the operation of the real and personal property on the development site during the construction. See Montana Code 90-6-103

  • Housing sponsor: means individuals, joint ventures, partnerships, limited partnerships, trusts, firms, associations, corporations, governmental agencies, limited-profit housing sponsors, nonprofit corporations, or other legal entities or any combination of the entities listed in this subsection that are:

    (a) approved by the board;

    (b) qualified to either own, construct, acquire, rehabilitate, operate, manage, or maintain a housing development;

    (c) subject to the rules of the board and other terms and conditions set forth in this part. See Montana Code 90-6-103

  • Improving: means reconstructing, replacing, extending, repairing, bettering, equipping, developing, or embellishing. See Montana Code 7-7-4602
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Institution: means any public or private:

    (i) nonprofit hospital, corporation, or other organization authorized to provide or operate an eligible facility in this state;

    (ii) nonprofit prerelease center, corporation, or other organization authorized to operate a prerelease center in this state; or

    (iii) for-profit or nonprofit corporation or other organization authorized to provide for or to operate a project or a facility with qualified small issue bond financing pursuant to section 144(a) of the Internal Revenue Code, 26 U. See Montana Code 90-7-102

  • Institution of higher education: means any private, nonprofit corporation or institution within the state of Montana:

    (a) authorized to provide or operate educational facilities; and

    (b) providing a program of education beyond the high school level. See Montana Code 90-5-101

  • 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
  • Investment-grade energy audit: means a study of energy or water usage of a public building performed by a qualified energy service provider utilizing a professional engineer licensed in the state of Montana. See Montana Code 90-4-1102
  • irrigable land: means :

    (1) land that can receive irrigation water and is classified as irrigable by the district or the United States government; or

    (2) land decreed as taxable acreage under 85-7-1841 through 85-7-1845. See Montana Code 85-7-2205

  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • Jurisdictional revenue disparity: means property tax revenues resulting from a large-scale hard-rock mineral development that are inequitably distributed among affected local government units as finally determined by the board in an approved impact plan. See Montana Code 90-6-402
  • Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
  • Land information: means data that describes the geographic location and characteristics of natural or constructed features and boundaries within or pertaining to Montana. See Montana Code 90-1-403
  • Law: means any act or statute (general, special, or local) of this state, including but not limited to the charter of any municipality. See Montana Code 7-7-4602
  • 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
  • Legacy: A gift of property made by will.
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Lending institution: means any public or private entity or governmental agency approved by the board maintaining an office in this state and authorized by law to make or participate in making residential mortgages in the state. See Montana Code 90-6-103
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Library: means the state library provided for in 22-1-201. See Montana Code 90-15-102
  • Local government: means a county, a consolidated government, an incorporated city or town, a school district, or a special district. See Montana Code 2-2-102
  • Local government: means a county, consolidated government, city, town, or district or local public entity with the authority to spend or receive public funds. See Montana Code 90-1-201
  • Majority party: means the party with the most members in a house of the legislature, subject to subsection (2). See Montana Code 1-1-208
  • Management: means the collection and application of biological information for the purposes of conserving populations of wildlife consistent with other uses of land and habitat. See Montana Code 87-5-102
  • Matching funds: means the funds received by the loan or grant recipient from private, federal, state, or commodity checkoff funds and contributed by the recipient in support of a loan or grant application in an amount that is at least equal to the funds disbursed to the recipient by the council. See Montana Code 90-9-103
  • Measurement and verification: means the methodology, measurements, inspections, and mathematical calculations to determine utility consumption before and after an energy performance contract is implemented. See Montana Code 90-4-1102
  • Mineral: means any precious stones or gems, gold, silver, copper, coal, lead, petroleum, natural gas, oil, uranium, or other nonrenewable merchantable products extracted from the surface or subsurface of the state of Montana. See Montana Code 90-2-1103
  • Mineral development: means exploration, extraction, processing, or other activity related to the production of a mineral. See Montana Code 90-2-1103
  • Minority party: means the party with the second most members in a house of the legislature, subject to subsection (2). See Montana Code 1-1-208
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Mortgage: means a mortgage or deed of trust or other security device. See Montana Code 90-5-101
  • Mortgage: means a mortgage deed, deed of trust, or other instrument that constitutes a valid lien on real property in fee simple or on a leasehold under a lease having a remaining term at the time that the mortgage is acquired that does not expire for at least that number of years beyond the maturity date of the obligation secured by the mortgage established by the board as necessary to protect its interest as mortgagee. See Montana Code 90-6-103
  • Mortgage: means a mortgage as defined in 90-6-103. See Montana Code 90-6-503
  • Mortgage loan: means a loan for the purchase of real property with any improvements located within this state that is to be used for residential purposes and that is based upon a written instrument approved by a federal agency and that is written in the form of a trust indenture. See Montana Code 90-6-602
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgage loan: means an interest-bearing obligation secured by a mortgage on land and improvements in the state. See Montana Code 90-6-103
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagee: means the holder of a mortgage or its assignee. See Montana Code 90-6-503
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Mortgagor: means a person:

    (a) who is of lower income as determined by the board. See Montana Code 90-6-503

  • Municipality: means a city or town, however organized. See Montana Code 7-7-4402
  • Municipality: means any city or town of this state. See Montana Code 7-7-4602
  • Municipality: means any incorporated city or town in the state. See Montana Code 90-5-101
  • 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
  • Natural heritage program: means a program of information acquisition, storage, and retrieval for data relating to the flora, fauna, and biological community types of Montana. See Montana Code 90-15-102
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Nongame wildlife: means a wild mammal, bird, amphibian, reptile, fish, mollusk, crustacean, or other wild animal not otherwise legally classified by statute or regulation of this state. See Montana Code 87-5-102
  • Noxious weed: means a weed defined in 7-22-2101. See Montana Code 87-5-802
  • Noxious weed management: means an integrated weed management program for the containment, suppression, and, where possible, eradication of noxious weeds. See Montana Code 87-5-802
  • Oath: includes an affirmation or declaration. See Montana Code 1-1-201
  • Operation and maintenance cost savings: means a measurable decrease in operation and maintenance costs as a direct result of cost-saving measures calculated using baseline operation and maintenance costs. See Montana Code 90-4-1102
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owners: means the person or persons who appear as owners of record of the legal title to real property according to the county records, whether the title is held beneficially or in a fiduciary capacity, except that a person holding a title for purposes of security is not an owner and the owner for security may not affect the previous title for purposes of this chapter. See Montana Code 85-9-103
  • Participating financial institution: means a corporate lender or other loan originator approved by the board for originating and servicing loans pursuant to this part. See Montana Code 90-6-602
  • Participating institution: means an institution that undertakes the financing, refunding, or refinancing of obligations on the construction or acquisition of an eligible facility pursuant to the provisions of this chapter. See Montana Code 90-7-102
  • Participating state agency: means , for a state-owned building, structure, or facility, the state agency that pays for the utilities for that building. See Montana Code 90-4-602
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Peace officer: has the meaning as defined in 46-1-202. See Montana Code 1-1-207
  • Person: means a natural person, firm, partnership, cooperative, association, public or private corporation, including the state of Montana or the United States, foundation, state agency or institution, county, municipality, district or other political subdivision of the state, federal agency or bureau, or any other legal entity. See Montana Code 85-9-103
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Person: means an individual, firm, corporation, association, or partnership. See Montana Code 87-4-406
  • Person: means an individual, firm, corporation, association, or partnership. See Montana Code 87-5-102
  • Person: means an individual, corporation, partnership, firm, association, cooperative, limited liability company, limited liability partnership, or any other similar entity. See Montana Code 90-4-1102
  • Persons and families of lower income: means persons and families with insufficient personal or family income or other financial resources who require assistance under this part, as determined by the board, taking into consideration:

    (a) the amount of the total personal and family income, assets, and other financial resources available for housing needs;

    (b) the size of the family;

    (c) the eligibility of persons and families under federal housing assistance of any type based on lower income or a functional or physical disability;

    (d) the ability of persons and families to compete successfully in the normal housing market and to pay the amount at which private enterprise is providing decent, safe, and sanitary housing;

    (e) the availability and cost of housing in particular areas; and

    (f) needs of particular persons or families because of age or physical disabilities. See Montana Code 90-6-103

  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
  • Private interest: means an interest held by an individual that is:

    (a) an ownership interest in a business;

    (b) a creditor interest in an insolvent business;

    (c) an employment or prospective employment for which negotiations have begun;

    (d) an ownership interest in real property;

    (e) a loan or other debtor interest; or

    (f) a directorship or officership in a business. See Montana Code 2-2-102

  • program: means the program created in 90-6-603. See Montana Code 90-6-602
  • Program: means the Montana community service program, which includes all of the volunteer projects established under this part. See Montana Code 90-14-102
  • Program: means the fish, wildlife, and parks crimestoppers program created under 87-5-605. See Montana Code 87-5-602
  • Project: means a planned and coordinated action or series of actions addressing an objective consistent with the policy and purpose of the reclamation and development grants program. See Montana Code 90-2-1103
  • 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

  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public benefits: means those benefits that accrue to citizens as a group and enhance the common well-being of the people of Montana. See Montana Code 90-2-1103
  • Public employee: means :

    (a) any temporary or permanent employee of the state;

    (b) any temporary or permanent employee of a local government;

    (c) a member of a quasi-judicial board or commission or of a board, commission, or committee with rulemaking authority; and

    (d) a person under contract to the state. See Montana Code 2-2-102

  • Public information: has the meaning provided in 2-6-1002. See Montana Code 2-2-102
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Public officer: includes any state officer and any elected officer of a local government. See Montana Code 2-2-102
  • Public resources: means the natural resources of the state, including air, water, soil, minerals, vegetation, and fish and wildlife, and the economic, social, and cultural conditions of Montana citizens. See Montana Code 90-2-1103
  • Qualified energy service provider: means a person included on the department's list of qualified energy service providers. See Montana Code 90-4-1102
  • Quorum: The number of legislators that must be present to do business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Refinancing: means funding, refunding, paying, or discharging, by means of refunding bonds or the proceeds received from the sale of refunding bonds, all or any part of any notes, bonds, or other obligations issued to finance or to aid in financing the acquisition, construction, or improving of an enterprise and payable solely from all or any part of the revenue of the refunding bonds, including interest on the refunding bonds in arrears or about to become due, whether or not represented by coupons or interest certificates. See Montana Code 7-7-4602
  • Refunding bonds: means notes, bonds, certificates, or other obligations of a municipality issued pursuant to this part or pursuant to any other law as supplemented by or in conjunction with this part. See Montana Code 7-7-4602
  • Rehabilitation: means the repair, reconstruction, or improvement of an existing structure to provide decent, safe, and sanitary housing or to conform housing with state or local health, building, fire prevention, and safety codes as determined by the board. See Montana Code 90-6-103
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Resident: means an individual who maintains a permanent place of abode within Montana and who has not established a residence elsewhere even though the individual may be temporarily absent from the state. See Montana Code 90-6-602
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revenue: means , with respect to eligible facilities, the rents, fees, charges, interest, principal repayments, and other income received or to be received by the authority from any source on account of the eligible facilities. See Montana Code 90-7-102
  • Revenue: means all fees, tolls, rates, rentals, and charges to be levied and collected in connection with an enterprise and all other income and receipts of whatever kind or character derived by the municipality from the operation of an enterprise or arising from an enterprise. See Montana Code 7-7-4602
  • Reverse annuity mortgage loan: means a loan in which loan proceeds are advanced to the mortgagor to provide a monthly tax-free cash payment for 10 years. See Montana Code 90-6-503
  • Roadside menagerie: means any place where one or more wild animals, including birds, reptiles, and the like, are kept in captivity for the evident purpose of exhibition or attracting trade, on or off the facility premises. See Montana Code 87-4-801
  • serial bonds: as used in this part , means a bond issue payable in annual installments of principal commencing not more than 2 years from the date of issue, any one installment consisting of one or more bonds, with the principal amount of bonds maturing or subject to mandatory sinking fund redemption in each installment, commencing with the installment payable in the fourth year after the date of issue, not exceeding three times the principal amount of the bonds payable in the immediately preceding installment. See Montana Code 7-7-2211
  • serial bonds: as used in this part , means a bond issue payable in annual installments of principal commencing not more than 2 years from the date of issue, any one installment consisting of one or more bonds, with the principal amount of bonds maturing or subject to mandatory sinking fund redemption in each installment, commencing with the installment payable in the fourth year after the date of issue, not exceeding three times the principal amount of the bonds payable in the immediately preceding installment. See Montana Code 7-7-4210
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Single-family dwelling: means a one- to four-family living unit. See Montana Code 90-6-503
  • State: means the state of Montana. See Montana Code 90-9-103
  • State agency: includes :

    (i) the state;

    (ii) the legislature and its committees;

    (iii) all executive departments, boards, commissions, committees, bureaus, and offices;

    (iv) the university system; and

    (v) all independent commissions and other establishments of the state government. See Montana Code 2-2-102

  • State agency: means :

    (a) each executive, legislative, or judicial branch department, office, or agency;

    (b) the university system; and

    (c) a community college district. See Montana Code 90-4-602

  • State librarian: means the executive officer of the state library commission provided for in 22-1-102. See Montana Code 90-1-403
  • State library: means the state library provided for in 22-1-201. See Montana Code 90-1-403
  • State officer: includes all elected officers and directors of the executive branch of state government as defined in 2-15-102. See Montana Code 2-2-102
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Take: means to harass, hunt, capture, or kill or attempt to harass, hunt, capture, or kill wildlife. See Montana Code 87-5-102
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Total project cost: means the total cost of the project, including costs of the investment-grade energy audit, energy performance contract, measurement and verification, and financing. See Montana Code 90-4-1102
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • treaty: means the Columbia River treaty between Canada and the United States relating to cooperative development of the water resources of the Columbia River basin. See Montana Code 85-25-101
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Tribal government: means any one of the seven federally recognized tribal governments of Montana and the Little Shell band of Chippewa Indians. See Montana Code 90-1-201
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • trust fund: means the trust fund created pursuant to Article IX, section 5, of the Montana constitution. See Montana Code 90-6-602
  • Trust indenture: has the meaning provided in 71-1-303. See Montana Code 90-6-602
  • Trustee: A person or institution holding and administering property in trust.
  • Under honorable conditions: means a discharge or separation from military duty characterized by the armed forces as under honorable conditions. See Montana Code 90-6-602
  • Undertaking: means one or a combination of the following:

    (a) water and sewer systems, together with all parts of the systems and appurtenances to the systems, including but not limited to supply and distribution systems, reservoirs, dams, and sewage treatment and disposal works;

    (b) public airport construction and public airport building;

    (c) convention facilities;

    (d) public recreation facilities;

    (e) streets and roads;

    (f) public parking facilities, solid waste management systems, or other revenue-producing facilities and services authorized for cities and towns; and

    (g) public transportation systems, including passenger buses, trolleys, passenger trains and lines, light rail trains and lines, and the facilities associated with those systems. See Montana Code 7-7-4402

  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Usage: means a reasonable and lawful public custom concerning transactions of the same nature as those which are to be affected thereby, existing at the place where the obligation is to be performed, and either known to the parties or so well established, general, and uniform that the parties must be presumed to have acted with reference thereto. See Montana Code 1-1-206
  • Usual: means according to usage. See Montana Code 1-1-206
  • Utility cost savings: means expenses for utilities that are eliminated or avoided on a long-term basis as a result of equipment installed or modified or services performed by a qualified energy service provider. See Montana Code 90-4-1102
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Verdict: The decision of a petit jury or a judge.
  • Vessel: when used in reference to shipping, includes ships of all kinds, steamboats and steamships, canal boats, and every structure adapted to be navigated from place to place. See Montana Code 1-1-207
  • Volunteer: means a person performing services under this part for an association, not-for-profit corporation, hospital, school, or state, local, or tribal governmental entity without compensation, except that partial or full reimbursement may be made for actual expenses incurred. See Montana Code 90-14-102
  • Wild animal: means an animal that is wild by nature as distinguished from the common domestic animals, whether the animal was bred or reared in captivity, and includes birds and reptiles. See Montana Code 87-4-801
  • Wild animal menagerie: means any place where one or more bears or large cats, including cougars, lions, tigers, jaguars, leopards, pumas, cheetahs, ocelots, and hybrids of those large cats are kept in captivity for use other than public exhibition. See Montana Code 87-4-801
  • Wildlife: means a wild mammal, bird, reptile, amphibian, fish, mollusk, crustacean, or other wild animal or any part, product, egg, or offspring or the dead body or parts of the animal. See Montana Code 87-5-102
  • Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204
  • 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
  • Writ: means an order in writing issued in the name of the state or of a court or judicial officer. See Montana Code 1-1-202
  • Zoo: means any zoological garden chartered as a nonprofit corporation by the state or any facility participating in the American zoo and aquarium association accreditation program for the purpose of exhibiting wild animals for public viewing. See Montana Code 87-4-801