Montana Code > Title 7 > Chapter 7 > Part 43 – Municipal Refunding General Obligation Bonds


§ 7-7-4301	Authorization to issue refunding general obligation bonds
§ 7-7-4302	Applicability of certain other bond provisions
§ 7-7-4303	Term of refunding general obligation bonds
§ 7-7-4304	Interest rate on refunding general obligation bonds
§ 7-7-4311	Procedure to issue refunding general obligation bonds
§ 7-7-4312	Disposition of proceeds of refunding bonds
§ 7-7-4316	Advance refunding bonds

Contract: A legal written agreement that becomes binding when signed.
Escrow: Money given to a third party to be held for payment until certain conditions are met.
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}
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
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
United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
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.