reglab/housing_qa huggingface dataset:
MT Code § 20-9-413 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-413. through 20-9-420 reserved

  20-9-413 through 20-9-420 reserved.
MT Code § 20-9-421 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-421. Election to authorize the issuance of school district bonds and the methods of introduction

  20-9-421. Election to authorize the issuance of school district bonds and the methods of introduction. A school district may not issue bonds for any purpose other than that provided in 15-1-402, 20-9-412, and 20-9-471 unless the issuance of bonds has been authorized by the qualified electors of the school district at an election called for the purpose of considering a proposition to issue the bonds. A school district bond election must be called by a resolution as prescribed under the provisions of 20-20-201 when:   (1) the trustees, of their own volition, adopt a resolution to that effect; or   (2) the trustees have received a petition that asks for an election to be held to consider a bond proposition and that has been validated under the provisions of 20-9-425.   History: En. 75-7110 by Sec. 311, Ch. 5, L. 1971; R.C.M. 1947, 75-7110; amd. Sec. 9, Ch. 213, L. 1989; amd. Sec. 1, Ch. 25, L. 2011.
MT Code § 20-9-422 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-422. Additional requirements for trustees' resolution calling bond election

  20-9-422. Additional requirements for trustees' resolution calling bond election. (1) In addition to the requirements for calling an election that are prescribed in 20-20-201 and 20-20-203, the trustees' resolution calling a school district bond election must:   (a) specify whether the bonds will be general obligation bonds, oil and natural gas revenue bonds, or impact aid revenue bonds and, if oil and natural gas revenue bonds, whether a tax deficiency is pledged to the repayment of the bonds;   (b) fix the exact amount of the bonds proposed to be issued, which may be more or less than the amounts estimated in a petition;   (c) fix the maximum number of years in which the proposed bonds would be paid;   (d) in the case of initiation by a petition, state the essential facts about the petition and its presentation; and   (e) state the amount of the state advance for school facilities estimated, pursuant to subsection (2), to be received by the district in the first school fiscal year in which a debt service payment would be due on the proposed bonds.   (2) Prior to the adoption of the resolution calling for a school bond election for a general obligation bond, the trustees of a district may request from the superintendent of public instruction a statement of the estimated amount of state advance for school facilities that the district will receive for debt service payments on the proposed general obligation bonds in the first school fiscal year in which a debt service payment is due. The district shall provide the superintendent with an estimate of the debt service payment due in the first school fiscal year. The superintendent shall estimate the state advance for the general obligation bond issue pursuant to 20-9-371(2).   History: En. 75-7111 by Sec. 312, Ch. 5, L. 1971; R.C.M. 1947, 75-7111; amd. Sec. 7, Ch. 586, L. 1995; amd. Sec. 5, Ch. 492, L. 2003; amd. Sec. 19, Ch. 400, L. 2013.
MT Code § 20-9-423 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-423. Form, contents, and circularization of petition proposing school district bond election

  20-9-423. Form, contents, and circularization of petition proposing school district bond election. Any petition for the calling of an election on the proposition of issuing school district bonds must:   (1) specify whether the bonds will be general obligation bonds, oil and natural gas revenue bonds, or impact aid revenue bonds and, if oil and natural gas revenue bonds, whether a tax deficiency is pledged to the repayment of the bonds;   (2) plainly state each purpose of the proposed bond issue and the estimated amount of the bonds that would be issued for each purpose;   (3) be signed by not less than 20% of the school district electors qualified to vote under the provisions of 20-20-301 in order to constitute a valid petition;   (4) be a single petition or it may be composed of more than one petition, all being identical in form, and after being circulated and signed, they must be fastened together to form a single petition when submitted to the county registrar;   (5) be circulated by any one or more qualified electors of the school district; and   (6) contain an affidavit of each registered elector circulating a petition attached to the portion of the petition circulated. The affidavit must attest to the authenticity of the signatures and that the signers knew the contents of the petition at the time of signing it.   History: En. 75-7112 by Sec. 313, Ch. 5, L. 1971; amd. Sec. 8, Ch. 83, L. 1971; R.C.M. 1947, 75-7112; amd. Sec. 6, Ch. 492, L. 2003; amd. Sec. 20, Ch. 400, L. 2013.
MT Code § 20-9-424 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-424. Validation of petition -- election administrator's certificate

  20-9-424. Validation of petition -- election administrator's certificate. (1) The petitioners for a school district bond election shall submit their petition to the county election administrator of the county where the school district is located for validation of the signatures on the petition. The county election administrator shall examine the petition and attach or endorse on the petition a certificate that must state:   (a) the total number of electors of the school district who are, at the time, qualified to vote under the provisions of 20-20-301;   (b) which and how many of the individuals whose names are subscribed to the petition possess the qualifications to vote on a bond proposition; and   (c) whether the number of qualified signers established in subsection (1)(b) is more or less than 20% of the total number of registered electors established in subsection (1)(a).   (2) After completing the examination, the county election administrator shall immediately send the petition and certificate to the school district. The county election administrator may not receive compensation for the examination of school district bond petitions.   History: En. 75-7113 by Sec. 314, Ch. 5, L. 1971; amd. Sec. 9, Ch. 83, L. 1971; R.C.M. 1947, 75-7113; amd. Sec. 354, Ch. 571, L. 1979; amd. Sec. 313, Ch. 56, L. 2009.
MT Code § 20-9-425 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-425. Trustees' consideration of validated petition proposing bond election

  20-9-425. Trustees' consideration of validated petition proposing bond election. When a school district receives a school district bond petition from the county registrar, a meeting of the trustees shall be called for the consideration of the petition. The trustees shall be the judges of the adequacy of the petition, and their findings shall be conclusive against the school district in favor of the innocent holder of bonds issued pursuant to the election called and held by reason of the presentation of such petition. The petition shall be valid if the trustees find that it is in proper form and bears the signatures of not less than 20% of the school district electors who are qualified to vote under the provisions of 20-20-301.   History: En. 75-7114 by Sec. 315, Ch. 5, L. 1971; amd. Sec. 10, Ch. 83, L. 1971; R.C.M. 1947, 75-7114.
MT Code § 20-9-426 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-426. Preparation and form of ballots for bond election

  20-9-426. Preparation and form of ballots for bond election. (1) The school district shall cause ballots to be prepared for all bond elections.   (2) All ballots must be substantially in the following form:   OFFICIAL BALLOTSCHOOL DISTRICT BOND ELECTION   INSTRUCTIONS TO VOTERS: Make an X or similar mark in the vacant square before the words "BONDS--YES" if you wish to vote for the bond issue; if you are opposed to the bond issue, make an X or similar mark in the square before the words "BONDS--NO".   Shall the board of trustees be authorized to issue and sell (state type of bonds here: general obligation, oil and natural gas revenue, oil and natural gas revenue for which a tax deficiency is pledged, or impact aid revenue) bonds of this school district in the amount of ............ dollars ($ ..........), payable semiannually, during a period not more than ...... years, for the purpose ............................. (here state the purpose the same way as in the notice of election)?   ☐ BONDS -- YES.   ☐ BONDS -- NO.   History: En. 75-7115 by Sec. 316, Ch. 5, L. 1971; amd. Sec. 39, Ch. 234, L. 1971; R.C.M. 1947, 75-7115; amd. Sec. 12, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 2, Ch. 144, L. 1997; amd. Sec. 7, Ch. 492, L. 2003; amd. Sec. 6, Ch. 271, L. 2011; amd. Sec. 21, Ch. 400, L. 2013; amd. Sec. 209, Ch. 49, L. 2015.
MT Code § 20-9-427 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-427. Notice of bond election by separate purpose

  20-9-427. Notice of bond election by separate purpose. (1) A school district bond election must be conducted in accordance with the school election provisions of this title, except that the election notice must be in substantially the following form:  NOTICE OF SCHOOL DISTRICT BOND ELECTION   Notice is hereby given by the trustees of School District No. .............. of.............. County, state of Montana, that pursuant to a certain resolution adopted at a meeting of the board of trustees of the school district held on the.............. day of.............., .............., an election of the registered electors of School District No............... of.............. County, state of Montana, will be held on the.............. day of.............., .............., at.............. for the purpose of voting upon the question of whether or not the trustees may issue and sell (state here: general obligation, oil and natural gas revenue, oil and natural gas revenue for which a tax deficiency is pledged, or impact aid revenue) bonds of the school district in the amount of.............. dollars ($..............), payable semiannually, for the purpose of.............. (here state purpose). The bonds to be issued will be payable in installments over a period not exceeding.............. (state number) years.   The polls will be open from.............. o'clock ......m. and until.............. o'clock ......m. of the election day.   Dated and posted this....... day of.............   .......................................................   Presiding officer, School District No...............   of................... County   Address.............................   (2) If the bonds proposed to be issued are for more than one purpose, then each purpose must be separately stated in the notice, together with the proposed amount of bonds for each purpose.   (3) The notice must specify whether the bonds will be general obligation bonds, oil and natural gas revenue bonds, or impact aid revenue bonds.   History: En. 75-7116 by Sec. 317, Ch. 5, L. 1971; amd. Sec. 40, Ch. 234, L. 1971; amd. Sec. 1, Ch. 176, L. 1973; R.C.M. 1947, 75-7116; amd. Sec. 13, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 42, Ch. 423, L. 1995; amd. Sec. 8, Ch. 492, L. 2003; amd. Sec. 7, Ch. 271, L. 2011; amd. Sec. 22, Ch. 400, L. 2013.
MT Code § 20-9-428 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-428. Determination of approval or rejection of proposition at bond election

  20-9-428. Determination of approval or rejection of proposition at bond election. (1) When the trustees canvass the vote of a school district bond election under the provisions of 20-20-415, they shall determine the approval or rejection of the school bond proposition in the following manner:   (a) Except as provided in subsection (1)(c), if the school district bond election is held at a regular school election or at a special election called by the trustees, the trustees shall:   (i) determine the total number of electors of the school district who are qualified to vote under the provisions of 20-20-301 from the list of electors supplied by the county registrar for the school bond election;   (ii) determine the total number of qualified electors voting at the school bond election from the tally sheets for the election; and   (iii) calculate the percentage of qualified electors voting at the school bond election by dividing the amount determined in subsection (1)(a)(ii) by the amount determined in subsection (1)(a)(i).   (b) When the calculated percentage in subsection (1)(a)(iii) is:   (i) 40% or more, the school bond proposition is approved and adopted if a majority of the votes were cast in favor of the proposition, otherwise it is rejected;   (ii) more than 30% but less than 40%, the school bond proposition is approved and adopted if 60% or more of the votes were cast in favor of the proposition, otherwise it is rejected; or   (iii) 30% or less, the school bond proposition is rejected.   (c) If the school district bond election is held in conjunction with an election that is conducted by mail ballot, as provided in Title 13, chapter 19, or in conjunction with a general or primary election, the determination of the approval or rejection of the bond proposition is made by a majority of the votes cast on the issue.   (2) If the canvass of the vote establishes the approval and adoption of the school bond proposition, the trustees shall issue a certificate proclaiming the passage of the proposition and the authorization to issue bonds of the school district for the purposes specified on the ballot for the school district bond election.   History: En. 75-7117 by Sec. 318, Ch. 5, L. 1971; amd. Sec. 11, Ch. 83, L. 1971; R.C.M. 1947, 75-7117; amd. Sec. 3, Ch. 503, L. 2005; amd. Sec. 8, Ch. 271, L. 2011; amd. Sec. 210, Ch. 49, L. 2015.
MT Code § 20-9-429 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-429. Trustees' resolution to issue school district bonds pursuant to public sale

  20-9-429. Trustees' resolution to issue school district bonds pursuant to public sale. If the trustees conduct a public sale, at any time after the date of the election certificate, the trustees shall adopt a resolution calling for the sale of bonds of the school district. The resolution must specify:   (1) the number of series or installments in which the bonds are to be issued;   (2) the amount of bonds to be issued;   (3) the minimum purchase price of the bonds;   (4) the purpose or purposes of the issue;   (5) the date that the issue will bear;   (6) the period of time through which the issue will be paid;   (7) the manner of execution of the bonds;   (8) whether bids will be accepted for either serial or amortization bonds and, if so, the denomination of serial or amortization bonds;   (9) the date and time that the sale of the bonds must be conducted; and   (10) the minimum price fixed by the board of trustees for the bonds, which may not be less than 97% of the principal amount of the bonds if the board determines that the sale is in the best interests of the district.   History: En. 75-7118 by Sec. 319, Ch. 5, L. 1971; R.C.M. 1947, 75-7118; amd. Sec. 43, Ch. 423, L. 1995; amd. Sec. 21, Ch. 253, L. 2011.
MT Code § 20-9-431 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-431. Publication of notice of sale of school district bonds

  20-9-431. Publication of notice of sale of school district bonds. If the trustees conduct a public sale, the trustees shall publish the notice of sale of the bonds, as provided in 17-5-106, in one or more newspapers as determined by the trustees.   History: En. 75-7120 by Sec. 321, Ch. 5, L. 1971; R.C.M. 1947, 75-7120; amd. Sec. 6, Ch. 384, L. 1979; amd. Sec. 4, Ch. 173, L. 1987; amd. Sec. 45, Ch. 423, L. 1995; amd. Sec. 23, Ch. 253, L. 2011.
MT Code § 20-9-432 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-432. Sale of school district bonds

  20-9-432. Sale of school district bonds. (1) If the trustees conduct a public sale, the trustees shall meet at the time and place fixed in the notice to consider bids on the bond issue. The bonds must be sold at not less than the minimum bid specified for bonds with accrued interest to date of delivery, and each bidder shall specify the rate of interest and purchase price at which the bidder will purchase the bonds. The trustees shall accept the bid that they judge most advantageous to the school district. Consultant fees and attorney fees may be paid to any person or corporation for assisting in the proceedings, in the preparation of the bonds, or in negotiating the sale. The trustees are authorized to reject any bids and to sell the bonds at private sale if they consider it in the best interests of the school district, except that the bonds may not be sold at less than the minimum sale price with accrued interest to date of delivery.   (2) The trustees may cooperate and combine with other school districts within the same county for the purpose of preparing and negotiating the sale of bond issues if, in the opinion of the trustees, the cooperation or combination will facilitate the sale of school district bonds under more advantageous terms or with lower interest rates. However, bond issues prepared or negotiated for sale under this section may not be combined for any other purpose but must be entered separately on the books of the county treasurer and must be otherwise treated as separate bond issues.   History: En. 75-7121 by Sec. 322, Ch. 5, L. 1971; amd. Sec. 10, Ch. 234, L. 1971; amd. Sec. 1, Ch. 66, L. 1974; R.C.M. 1947, 75-7121; amd. Sec. 9, Ch. 631, L. 1983; amd. Sec. 46, Ch. 423, L. 1995; amd. Sec. 24, Ch. 253, L. 2011.
MT Code § 20-9-433 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-433. Form and execution of school district bonds

  20-9-433. Form and execution of school district bonds. (1) At the time of the sale of the bonds or at a meeting held after the sale, the trustees shall adopt a resolution or indenture of trust providing for the issuance of the bonds, prescribing the form of the bonds, whether amortization or serial bonds, and prescribing the manner of execution of the bonds. If applicable, the trustees shall specify whether the bonds are qualified school construction bonds as described in 17-5-116(1) or tax credit bonds as provided in 17-5-117.   (2) Each bond and coupon attached to a bond must be signed by or bear the facsimile signatures of the presiding officer of the trustees and the school district clerk, provided that one signature of a school official or the bond registrar must be a manual signature.   History: En. 75-7122 by Sec. 323, Ch. 5, L. 1971; R.C.M. 1947, 75-7122; amd. Sec. 7, Ch. 384, L. 1979; amd. Sec. 47, Ch. 423, L. 1995; amd. Sec. 10, Ch. 492, L. 2003; amd. Sec. 22, Ch. 489, L. 2009.
MT Code § 20-9-434 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-434. Registration of school district bonds by county treasurer and copy for preservation

  20-9-434. Registration of school district bonds by county treasurer and copy for preservation. (1) When the school district bonds have been executed by the presiding officer of the trustees and the school district clerk, the bonds must be registered by the county treasurer in the treasurer's bond registration book before the bonds are delivered to the purchaser. The bond registration must show:   (a) the date of issue;   (b) the redeemable date of each bond; and   (c) the amount and due date of all payments required on the bonds.   (2) The trustees shall provide the county treasurer with an unsigned and canceled printed specimen copy of each issue of school district bonds for preservation in the office of the county treasurer.   History: En. 75-7123 by Sec. 324, Ch. 5, L. 1971; R.C.M. 1947, 75-7123; amd. Sec. 48, Ch. 423, L. 1995.
MT Code § 20-9-435 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-435. Delivery of school district bonds and disposition of sale money

  20-9-435. Delivery of school district bonds and disposition of sale money. (1) After the school district bonds have been registered, the county treasurer shall:   (a) when the board of investments has purchased the bonds, forward the bonds to the board that, in turn, shall send the bonds to the state treasurer and shall pay the bonds in the manner provided by law; or   (b) if the purchaser is anybody other than the board of investments, deliver the bonds to the purchaser when full payment of the bonds has been made by the purchaser.   (2) If any of the trustees fails or refuses to pay into the proper county treasury the money arising from the sale of a bond, the trustee is guilty of a felony and shall be punished by imprisonment in the state prison for not less than 1 year or more than 10 years or by a fine of not more than $50,000, or both.   (3) All money realized from the sale of school district bonds must be paid to the county treasurer. The county treasurer shall credit the money to the building fund of the school district issuing the bonds, except money realized for accrued interest or the purposes defined in 20-9-403(1)(c) and (1)(d) must be deposited in the debt service fund and money realized for the purposes authorized in 20-9-403(1)(e) must be deposited in a fund, as provided for in 2-9-316, to pay a final judgment against the school district. The money realized from the sale of school district bonds must be immediately available to the school district, and the trustees may expend the money without budgeted authorization only for the purposes for which the bonds were authorized by the school district bond election.   History: En. 75-7124 by Sec. 325, Ch. 5, L. 1971; R.C.M. 1947, 75-7124; amd. Sec. 8, Ch. 384, L. 1979; amd. Sec. 7, Ch. 198, L. 1981; amd. Sec. 9, Ch. 568, L. 1991; amd. Sec. 35, Ch. 767, L. 1991; amd. Sec. 20, Ch. 219, L. 1997.
MT Code § 20-9-436 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-436. County attorney to assist in proceedings

  20-9-436. County attorney to assist in proceedings. The trustees of a school district conducting bond proceedings shall prepare and maintain a transcript of their bond proceedings. It is a part of the official duties of the county attorney of every county of this state to advise and assist the trustees of each school district of the county in its bond proceedings. Before any transcript of school district bond proceedings is sent to the board of investments, the county attorney shall carefully examine the transcript, and the transcript may not be sent until the county attorney has attached an opinion to the transcript that the proceedings are in full compliance with law. However, the trustees of any school district may, upon consent of the county attorney, employ any attorney licensed in Montana to assist the county attorney in the performance of these duties.   History: En. 75-7125 by Sec. 326, Ch. 5, L. 1971; amd. Sec. 1, Ch. 263, L. 1971; R.C.M. 1947, 75-7125; amd. Sec. 9, Ch. 384, L. 1979; amd. Sec. 314, Ch. 56, L. 2009.