reglab/housing_qa huggingface dataset:
MT Code § 90-7-102 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-102. Definitions

  90-7-102. Definitions. As used in this chapter, unless the context requires otherwise, the following definitions apply:   (1) "Authority" means the Montana facility finance authority created in 2-15-1815.   (2) "Capital reserve account" means the account established in 90-7-317.   (3) "Costs" means costs allowed under 90-7-103.   (4) "Eligible facility" means any eligible facility as defined in 90-7-104.   (5) (a) "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.S.C. 144(a).   (b) The term also includes the following, provided that the entity is a nonprofit entity or is controlled by one or more nonprofit entities:   (i) a network of health care providers, regardless of how it is organized;   (ii) an integrated health care delivery system;   (iii) a joint venture or partnership between or among health care providers;   (iv) a purchasing alliance composed of health care providers;   (v) any health insurers and third-party administrators that are participants in a system, network, joint venture, or partnership that provides health services through one or more health facilities.   (6) "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.   (7) "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.   History: En. Sec. 3, Ch. 703, L. 1983; amd. Sec. 1, Ch. 673, L. 1991; amd. Sec. 1, Ch. 477, L. 1997; amd. Sec. 1, Ch. 479, L. 1997; amd. Sec. 6, Ch. 137, L. 2001; amd. Sec. 1, Ch. 402, L. 2009; amd. Sec. 49, Ch. 489, L. 2009.
MT Code § 90-7-103 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-103. Allowable costs

  90-7-103. Allowable costs. Costs eligible for financing or refinancing under this chapter include:   (1) the total of all reasonable or necessary costs incidental to the acquisition, construction, reconstruction, repair, alteration, equipment, enlargement, and improvement of an eligible facility and the acquisition of all real and personal property interests necessary or useful in connection with the eligible facility and all other undertakings that the authority considers reasonable or necessary for the development of the eligible facility;   (2) the cost of demolishing or removing any building or structure on land so acquired, the cost of acquiring any land to which the building or structure may be moved, the cost of all machinery and equipment, financing charges, interest prior to and during construction and, if judged advisable by the authority, for a period after completion of construction, and the cost of financing the eligible facility, including interest on bonds and notes issued by the authority to finance the eligible facility;   (3) reserves for principal and interest and for extensions, enlargements, additions, and improvements, including without limitation the cost of studies and surveys;   (4) the costs for land title and mortgage guaranty policies;   (5) the costs of plans, specifications, and architectural and engineering services;   (6) the costs of legal, organization, marketing, or other special services;   (7) the costs of financing, acquisition, demolition, construction, equipment, and site development of new and rehabilitated buildings;   (8) the costs of rehabilitation, reconstruction, repair, or remodeling of existing buildings; and   (9) all other expenses necessary and incidental to the construction and acquisition of the eligible facility, the financing of construction, and the acquisition and placing of the eligible facility into operation.   History: En. Sec. 5, Ch. 703, L. 1983; amd. Sec. 2, Ch. 477, L. 1997; amd. Sec. 7, Ch. 137, L. 2001.
MT Code § 90-7-104 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-104. Eligible facility

  90-7-104. Eligible facility. (1) The term "eligible facility" means any structure or building suitable for use as:   (a) a hospital, clinic, nursing home, or other health care facility as defined in 50-5-101;   (b) a public health center, as defined in 7-34-2102;   (c) a facility for persons with disabilities;   (d) a chemical dependency treatment facility;   (e) a nursing school;   (f) a medical teaching facility;   (g) a laboratory;   (h) a dental care facility;   (i) a prerelease center;   (j) a diagnostic, treatment, or surgical center;   (k) a facility providing services for the elderly;   (l) applicable to a project or a facility with qualified small issue bond financing pursuant to section 144(a) of the Internal Revenue Code, 26 U.S.C. 144(a); or   (m) a structure or facility related to any of the uses enumerated in subsections (1)(a) through (1)(l) or required or useful for the operation of an eligible facility. These related facilities include supporting service structures and all necessary, useful, and related equipment, furnishings, and appurtenances and include without limitation the acquisition, preparation, and development of all lands and real and personal property necessary or convenient as a site for any of the uses enumerated in subsections (1)(a) through (1)(l).   (2) An eligible facility does not include:   (a) items such as food, fuel, supplies, or other items that are customarily considered as current operating expenses; and   (b) a structure used or to be used primarily for sectarian instruction or study or as a place for devotional activities or religious worship.   History: En. Sec. 4, Ch. 703, L. 1983; amd. Sec. 21, Ch. 255, L. 1995; amd. Sec. 19, Ch. 93, L. 1997; amd. Sec. 80, Ch. 472, L. 1997; amd. Sec. 3, Ch. 477, L. 1997; amd. Sec. 2, Ch. 479, L. 1997; amd. Sec. 8, Ch. 137, L. 2001; amd. Sec. 2, Ch. 402, L. 2009; amd. Sec. 50, Ch. 489, L. 2009.
MT Code § 90-7-105 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-105. through 90-7-110 reserved

  90-7-105 through 90-7-110 reserved.
MT Code § 90-7-111 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-111. Credit of state not pledged -- statement on obligation required

  90-7-111. Credit of state not pledged -- statement on obligation required. (1) Obligations issued under the provisions of this chapter do not constitute a debt, liability, obligation, or pledge of the faith and credit of the state but are payable solely from the revenue or assets of the institution being financed.   (2) An obligation issued under this chapter must contain on the face of the obligation a statement to the effect that the state of Montana is not liable on the obligation, the obligation is not a debt of the state, and neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal of or the interest on the obligation.   History: En. Sec. 18, Ch. 703, L. 1983; amd. Sec. 4, Ch. 477, L. 1997.
MT Code § 90-7-112 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-112. Exemption from taxation -- securities law

  90-7-112. Exemption from taxation -- securities law. (1) The authority performs a public function for the benefit of the people of the state for the improvement of their health and living conditions and is a public instrumentality of the state. Accordingly, the income or other revenue of the authority and all property owned by the authority and any bonds, notes, or other obligations issued under this chapter, their transfer, and income therefrom, including any profit made on the sale thereof, are exempt at all times from all taxation in the state of Montana.   (2) Bonds issued by the authority are exempt from the Montana Securities Act, but copies of all prospectus and disclosure documents must be deposited with the state securities commissioner for public inspection.   History: En. Sec. 19, Ch. 703, L. 1983.
MT Code § 90-7-113 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-113. Bonds as legal investment

  90-7-113. Bonds as legal investment. (1) Bonds issued by the authority under the provisions of this chapter are securities in which funds may be legally and properly invested, including capital in the control of or belonging to:   (a) public officers and public bodies of the state and its political subdivisions;   (b) insurance companies;   (c) credit unions, building and loan associations, investment companies, savings banks, banking associations, and trust companies;   (d) personal representatives, public administrators, trustees, and other fiduciaries; and   (e) pension, profit-sharing, and retirement funds.   (2) Bonds issued under this chapter are securities that may properly and legally be deposited with and received by any state or municipal officer or any agency or municipality of the state for any purpose for which the deposit of bonds or obligations of the state is authorized by law.   History: En. Sec. 23, Ch. 703, L. 1983.
MT Code § 90-7-114 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-114. and 90-7-115 reserved

  90-7-114 and 90-7-115 reserved.
MT Code § 90-7-116 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-116. Taxation of certain projects financed by authority

  90-7-116. Taxation of certain projects financed by authority. (1) Regardless of whether the title to a project is held by the authority or a trustee acting for the authority, if the project is being financed by the authority on behalf of a for-profit corporation or other organization, the project is subject to taxation to the same extent, in the same manner, and under the same procedures as privately owned property in similar circumstances if the project is leased to or held by private interests on both the assessment date and the date the county commissioners set the mill levies in any year. The project is not subject to taxation in any year during which it is not leased to or held by private interests on both the assessment date and the date the county commissioners set the mill levy.   (2) When personal property owned by the authority or a trustee acting for the authority is taxed under this section and the personal property taxes on the personal property are delinquent, a levy by warrant for distraint for collection of the delinquent taxes may be made only on the personal property against which the taxes were levied.   History: En. Sec. 3, Ch. 402, L. 2009.
MT Code § 90-7-117 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-117. through 90-7-120 reserved

  90-7-117 through 90-7-120 reserved.
MT Code § 90-7-121 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 1. General Provisions|90-7-121. Biennial audit

  90-7-121. Biennial audit. The authority's books and records must be audited at least once each biennium, by or at the direction of the legislative auditor. The actual costs of the audit shall be paid from the authority's funds.   History: En. Sec. 26, Ch. 703, L. 1983; amd. Sec. 1, Ch. 220, L. 1989.
MT Code § 90-7-201 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-201. Authority -- quorum -- mode of action -- expenses

  90-7-201. Authority -- quorum -- mode of action -- expenses. (1) Four members of the authority constitute a quorum for the purpose of conducting business. Action may be taken by the authority upon the affirmative vote of at least four of its members. A vacancy in the membership of the authority does not impair the right of a quorum to exercise all the rights and perform all the duties of the authority.   (2) Each meeting of the authority for any purpose must be open to the public as provided for in Title 2, chapter 3, part 2. Resolutions need not be published or posted.   (3) Each member is entitled to be paid $50 for each day that the member is actually and necessarily engaged in the performance of board duties plus cost of travel, lodging, and meals as provided in 2-18-501 through 2-18-503.   History: En. Sec. 6, Ch. 703, L. 1983; amd. Sec. 1, Ch. 309, L. 1987; amd. Sec. 3, Ch. 479, L. 1997.
MT Code § 90-7-203 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-203. Staff of authority

  90-7-203. Staff of authority. The authority may employ or contract for any professional staff or consultants necessary. Such employment and contracting must be done in consultation with the department of commerce.   History: En. Sec. 9, Ch. 703, L. 1983.
MT Code § 90-7-204 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-204. Agent of the authority

  90-7-204. Agent of the authority. The authority may designate a participating institution as its agent for determining the location and character of an eligible facility undertaken by that institution under the provisions of this chapter. As agent, the institution may acquire, construct, reconstruct, renovate, replace, improve, maintain, repair, operate, lease, as lessee or lessor, and enter into contracts for any and all such purposes, including contracts for the management and operation of the facility.   History: En. Sec. 11, Ch. 703, L. 1983; amd. Sec. 6, Ch. 477, L. 1997.
MT Code § 90-7-205 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-205. through 90-7-210 reserved

  90-7-205 through 90-7-210 reserved.
MT Code § 90-7-211 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-211. Necessary expenses -- fees

  90-7-211. Necessary expenses -- fees. (1) Except as provided in 90-4-1305(3)(a), all expenses of the authority incurred in carrying out the provisions of this chapter are payable solely from funds provided under the authority of this chapter. Liability may not be incurred by the authority beyond the extent to which money has been provided under this chapter, except for the purposes of meeting the necessary expenses of initial organization and operation and until the date that the authority derives money from funds provided under this chapter. The authority may borrow money for necessary expenses of organization and operation. The borrowed money must be repaid within a reasonable time after the authority receives funds provided for under this chapter.  (2) When an application is made to the authority by any participating institution for financial assistance to provide for its eligible facilities, the application may be accompanied by an initial planning service fee in an amount determined by the authority. The initial planning service fee may be included in the cost of the eligible facilities to be financed. In addition to the initial fee, an annual planning service fee may be paid to the authority by each participating institution in an amount determined by the authority. The annual planning service fee may be paid on the dates or in installments that are satisfactory to the authority. The fees must be used for:   (a) necessary expenses to determine the need for eligible facilities in the area concerned, and to that end, the authority may use recognized voluntary and official health planning organizations and agencies at local, regional, and state levels;   (b) necessary administrative, operating, and financing expenses;   (c) reserves for anticipated future expenses or loan losses;   (d) loans to finance the costs of eligible facilities; and   (e) grants to institutions to assist in determining eligibility for or compliance with government programs.   (3) The authority may, for a negotiated fee, retain the services of any other public or private person, firm, partnership, association, or corporation for the furnishing of services and data for use by the authority in determining the need for and location of any eligible facility for which application is being made or for other services or surveys that the authority considers necessary to carry out the purposes of this chapter.   History: En. Sec. 20, Ch. 703, L. 1983; amd. Sec. 7, Ch. 477, L. 1997; amd. Sec. 5, Ch. 479, L. 1997; amd. Sec. 10, Ch. 137, L. 2001; amd. Sec. 10, Ch. 444, L. 2021.
MT Code § 90-7-212 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-212. Purchase of bonds by authority

  90-7-212. Purchase of bonds by authority. The authority may purchase its bonds or notes. The authority may hold, pledge, cancel, or resell such bonds or notes, subject to and in accordance with agreements with bondholders or noteholders.   History: En. Sec. 15, Ch. 703, L. 1983.
MT Code § 90-7-213 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-213. Loan limitation

  90-7-213. Loan limitation. A loan made by the authority may not exceed the total cost of the eligible facility being financed as the cost is determined by the participating institution and approved by the authority.   History: En. Sec. 10, Ch. 703, L. 1983; amd. Sec. 8, Ch. 477, L. 1997; amd. Sec. 6, Ch. 479, L. 1997; amd. Sec. 11, Ch. 137, L. 2001.
MT Code § 90-7-214 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-214. Restriction on operating facility -- leases

  90-7-214. Restriction on operating facility -- leases. (1) The authority may not operate an eligible facility as a business other than as a lessee or lessor. The lease must provide for rentals adequate to pay the principal and interest due on bonds and to create and maintain reserves and accounts for depreciation as the authority determines necessary.   (2) The lease may contain terms and conditions that the authority considers proper. The lease may be terminated upon failure of the participating institution to comply with any obligation under the lease. The lease may include a renewal or an option to purchase provision upon terms or conditions that the authority considers desirable.   (3) Upon payment of all indebtedness incurred by the authority for financing an eligible facility, the authority may convey any of the eligible facility to the lessee, with or without consideration.   History: En. Sec. 8, Ch. 703, L. 1983; amd. Sec. 9, Ch. 477, L. 1997; amd. Sec. 12, Ch. 137, L. 2001.
MT Code § 90-7-215 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-215. through 90-7-219 reserved

  90-7-215 through 90-7-219 reserved.
MT Code § 90-7-222 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-222. through 90-7-224 reserved

  90-7-222 through 90-7-224 reserved.
MT Code § 90-7-225 (2021)
2021 Montana Code Annotated|Title 90. Planning, Research, and Development|Chapter 7. Facility Finance Authority|Part 2. Authority Administration, Powers, and Limitations|90-7-225. Procedure prior to financing qualified small bond issue projects

  90-7-225. Procedure prior to financing qualified small bond issue projects. (1) In addition to meeting the other requirements contained in this chapter or in state or federal law, the requirements of subsections (2) through (4) must be met before financing is provided for a project described in 90-7-104(1)(l).   (2) The authority shall find that the financing is in the public interest. In order to determine whether or not the financing is in the public interest, a public hearing must be conducted in the following manner:   (a) the city or county in which the project will be located must be notified, and the city and county shall, within 14 days after receipt of the notice, notify the board if it elects to conduct the hearing; or   (b) if a request for a local hearing is not received by the authority within 14 days after the notification in subsection (2)(a), the authority may hold the hearing at a time and place it determines.   (3) Notice of the hearing must be published at least once a week for 2 weeks prior to the date set for the hearing by publication in a newspaper of general circulation in the city or county where the hearing will be held and the project will be located. The notice must include the time and place of the hearing, a general description of the nature and location of the project, the name of the lessee, borrower, or user of the project and the maximum principal amount of the financing to be provided by the authority.   (4) If the hearing required by subsection (2) is conducted by a local government, the governing body of the local government shall notify the authority of its determination of whether the financing is in the public interest within 14 days after the completion of the public hearing.   History: En. Sec. 4, Ch. 402, L. 2009.