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2019 Montana Code Annotated
Title 7. Local Government
Chapter 10. Regional Resource Authorities
Part 2. Project -- Funding
7-10-207. Nature of revenue bonds
Universal Citation: MT Code § 7-10-207 (2019)
7-10-207. Nature of revenue bonds. (1) The holder or holders of any bonds issued under this part does not have the right to compel any exercise of taxing power of the regional resource authority to pay the revenue bonds or the interest on the bonds.
(2) Each bond issued under this part must recite in substance that:
(a) the bond, including interest on the bond, is payable from the revenue pledged to the payment of the bond; and
(b) the bond does not constitute a debt of the regional resource authority within the meaning of any constitutional or statutory limitation or provision.
History: En. Sec. 13, Ch. 351, L. 2009.
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