reglab/housing_qa huggingface dataset:
MT Code § 7-7-2104 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2104. Replacement of lost bond, warrant, or coupon

  7-7-2104. Replacement of lost bond, warrant, or coupon. (1) The board may issue a duplicate warrant, bond, or coupon whenever any warrant, bond, or coupon drawn by it upon the treasury of the county is lost or destroyed. The duplicate warrant, bond, or coupon must be in the same form as the original and will take the place in order of registration and payment of and supersede the original bond, warrant, or coupon. It must have the word "duplicate" plainly printed across its face.   (2) No duplicate warrant, bond, or coupon may be issued under this section unless the person entitled to receive the duplicate deposits with the county treasurer a bond in double the amount for which the duplicate warrant, bond, or coupon is issued, conditioned to render the county and its officers harmless from all loss, costs, or damages by reason of issuing the duplicate.   (3) No bond of indemnity is required:   (a) when a payee is the state of Montana or any agency, instrumentality, or officer of the state;   (b) when the owner or custodian is the state or any agency or officer thereof;   (c) when the owner or custodian is a bank, savings and loan association, credit union, admitted insurer, or trust company whose financial condition is regulated by the state;   (d) when it can be established that a crime has been committed and that as a result of such crime a county warrant, bond, or coupon has been stolen or destroyed; or   (e) when it can be established that a county warrant, bond, or coupon has been mailed to an incorrect payee.   (4) If the owner or custodian applies under the provisions of subsection (3)(d) or (3)(e), a stop-payment order shall be placed on the original warrant, bond, or coupon by the county treasurer.   (5) If the owner or custodian applies under the provisions of subsection (3)(c), (3)(d), or (3)(e), the application shall include an agreement to indemnify and hold the county or its officers and employees harmless from any loss resulting from the issuance of a duplicate warrant, bond, or coupon. Any loss incurred in connection with the issuance of a duplicate warrant shall be charged against the account from which the payment was derived.   History: En. Secs. 1, 3, 4, p. 83, L. 1881; re-en. Secs. 4251, 4253, 4254, Pol. C. 1895; re-en. Secs. 2916, 2918, 2919, Rev. C. 1907; re-en. Secs. 4626, 4628, 4629, R.C.M. 1921; re-en. Secs. 4626, 4628, 4629, R.C.M. 1935; R.C.M. 1947, 16-2003, 16-2005, 16-2006; amd. Sec. 1, Ch. 110, L. 1979; amd. Sec. 7, Ch. 421, L. 1985.
MT Code § 7-7-2105 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2105. Repealed

  7-7-2105. Repealed. Sec. 3, Ch. 110, L. 1979.   History: En. Sec. 2, p. 83, L. 1881; re-en. Sec. 4252, Pol. C. 1895; re-en. Sec. 2917, Rev. C. 1907; re-en. Sec. 4627, R.C.M. 1921; re-en. Sec. 4627, R.C.M. 1935; R.C.M. 1947, 16-2004.
MT Code § 7-7-2106 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2106. Procedure if original bond, warrant, or coupon is presented

  7-7-2106. Procedure if original bond, warrant, or coupon is presented. The county treasurer, upon the production of any original bond, warrant, or coupon by the lawful owner or holder, shall assign by endorsement and deliver to the owner or holder the surety bond mentioned in 7-7-2104. The owner or holder may maintain an action upon the surety bond for the recovery of any money paid upon the duplicate, but the delivery of the surety bond does not relieve or exonerate the county from the payment of the amount specified in the bond upon a demand and refusal of the sureties named in the indemnifying surety bond to pay the amount.   History: En. Sec. 5, p. 83, L. 1881; re-en. Sec. 4255, Pol. C. 1895; re-en. Sec. 2920, Rev. C. 1907; re-en. Sec. 4630, R.C.M. 1921; re-en. Sec. 4630, R.C.M. 1935; R.C.M. 1947, 16-2007; amd. Sec. 2, Ch. 110, L. 1979; amd. Sec. 500, Ch. 61, L. 2007.
MT Code § 7-7-2107 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2107. through 7-7-2110 reserved

  7-7-2107 through 7-7-2110 reserved.
MT Code § 7-7-2111 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2111. Authorization to issue construction bonds

  7-7-2111. Authorization to issue construction bonds. The board of county commissioners has jurisdiction and power, under such limitations and restrictions as are prescribed by law, to issue on the credit of the county coupon bonds to an amount sufficient to secure the necessary funds for the procurement of necessary building sites, for the construction of necessary public buildings, and for the construction of bridges and highways, in accordance with the provisions of the code.   History: En. Subd. 27, Sec. 1, Ch. 100, L. 1931; re-en. Sec. 4465.26, R.C.M. 1935; R.C.M. 1947, 16-1029.
MT Code § 7-7-2112 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 21. General Provisions Related to Counties|7-7-2112. Investment of certain construction bond proceeds

  7-7-2112. Investment of certain construction bond proceeds. (1) Public funds realized from the sale of bonds by a county for the purpose of constructing public buildings or for other construction may be invested in any time or savings deposits, United States certificates of indebtedness, United States treasury notes, or United States treasury bonds having a maturity date of 1 year or less, when emergency conditions beyond the control of the county commissioners exist which preclude the construction of the projects for which the bonds were issued at the time such investments are made.   (2) Interest earned from such investments, including interest on the sale of bonds accrued in the period between the date of issue and the time of purchase, shall be credited to the sinking fund of the county, notwithstanding the provisions of 7-6-204(1).   (3) No provision of this section may be construed to prevent the investment of county or county high school money under the state unified investment program established in Title 17, chapter 6, part 2.   History: En. Sec. 1, Ch. 144, L. 1927; re-en. Sec. 4639.1, R.C.M. 1935; amd. Sec. 1, Ch. 151, L. 1951; amd. Sec. 1, Ch. 223, L. 1961; amd. Sec. 1, Ch. 13, L. 1963; amd. Sec. 1, Ch. 268, L. 1969; amd. Sec. 1, Ch. 421, L. 1973; amd. Sec. 1, Ch. 304, L. 1975; R.C.M. 1947, 16-2050(part).
MT Code § 7-7-2201 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2201. Purposes for which general obligation bonds of county may be issued

  7-7-2201. Purposes for which general obligation bonds of county may be issued. The board of county commissioners of a county may issue, negotiate, and sell coupon bonds on the credit of the county, as more specifically provided in this part, for any of the following purposes:   (1) acquiring land for sites and grounds for a public building or buildings of any kind within the county and under its control, which the county has lawful authority to acquire or erect, control, and maintain except that if the bonds are sold to fund a multicounty jail facility, funds may be used in the county in which the multicounty jail facility is located;   (2) acquiring land for any other public use or activity within the county, under its control and authorized by law;   (3) (a) constructing, erecting, or acquiring by purchase necessary public buildings within the county, under its control and authorized by law;   (b) making additions to and repairing buildings; and   (c) furnishing and equipping the buildings except that if the bonds are sold to fund a multicounty jail facility, funds may be used in the county in which the multicounty jail facility is located;   (4) building, purchasing, constructing, and maintaining devices intended to protect the safety of the public from open ditches carrying irrigation or other water;   (5) enabling a county to liquidate its indebtedness to another county incident to the creation of a new county or the changing of any county boundary line;   (6) funding, paying, and retiring outstanding county warrants lawfully issued against the county general fund, road fund, or bridge fund when:   (a) there is not sufficient money in the fund against which the warrants are drawn to pay and retire the warrants; and   (b) the levying of taxes sufficient to pay and retire the warrants within a period of 3 years would, in the judgment of the board, work a hardship and be an undue burden upon the taxpayers of the county.   History: En. Sec. 1, Ch. 188, L. 1931; re-en. Sec. 4630.1, R.C.M. 1935; amd. Sec. 1, Ch. 135, L. 1937; amd. Sec. 1, Ch. 136, L. 1963; amd. Sec. 12-102, Ch. 197, L. 1965; amd. Sec. 5, Ch. 100, L. 1973; R.C.M. 1947, 16-2008(part); amd. Sec. 5, Ch. 447, L. 1985; amd. Sec. 3, Ch. 571, L. 2001.
MT Code § 7-7-2202 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2202. Authority to issue general obligation bonds to satisfy judgments

  7-7-2202. Authority to issue general obligation bonds to satisfy judgments. (1) The board of county commissioners of every county of the state may issue, negotiate, and sell coupon bonds on the credit of the county, as provided in this part, for the purpose of funding, paying in full, or compromising, settling, and satisfying any judgment rendered against the county in a court of competent jurisdiction, including the repayment of tax protests lost by the county, when there are not sufficient funds available to pay the judgment.   (2) The resolution providing for the issuance of the bonds must recite the facts concerning the judgment to be funded and the terms of any compromise agreement entered into between the board and the judgment creditor.   History: En. Sec. 1, Ch. 188, L. 1931; re-en. Sec. 4630.1, R.C.M. 1935; amd. Sec. 1, Ch. 135, L. 1937; amd. Sec. 1, Ch. 136, L. 1963; amd. Sec. 12-102, Ch. 197, L. 1965; amd. Sec. 5, Ch. 100, L. 1973; R.C.M. 1947, 16-2008(part); amd. Sec. 4, Ch. 213, L. 1989; amd. Sec. 37, Ch. 574, L. 2001.
MT Code § 7-7-2203 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2203. Limitation on amount of bonded indebtedness

  7-7-2203. Limitation on amount of bonded indebtedness. (1) Except as provided in subsection (2), a county may not issue general obligation bonds for any purpose in an amount that, with all outstanding bonds and warrants except emergency bonds, exceeds the debt limitation referred to in 7-7-2101.   (2) The limitation in subsection (1) does not apply to refunding bonds issued for the purpose of paying or retiring county bonds lawfully issued prior to January 1, 1932, or to bonds issued for the repayment of tax protests lost by the county.   History: En. Sec. 3, Ch. 188, L. 1931; amd. Sec. 1, Ch. 115, L. 1933; re-en. Sec. 4630.3, R.C.M. 1935; amd. Sec. 2, Ch. 135, L. 1937; amd. Sec. 12-103, Ch. 197, L. 1965; amd. Sec. 6, Ch. 100, L. 1973; amd. Sec. 6, Ch. 391, L. 1973; R.C.M. 1947, 16-2010(part); amd. Sec. 1, Ch. 332, L. 1979; amd. Sec. 1, Ch. 617, L. 1979; amd. Sec. 46, Ch. 614, L. 1981; amd. Sec. 6, Ch. 447, L. 1985; amd. Sec. 7, Ch. 695, L. 1985; amd. Sec. 3, Ch. 655, L. 1987; amd. Sec. 10, Ch. 213, L. 1989; amd. Sec. 68, Ch. 11, Sp. L. June 1989; amd. Sec. 12, Ch. 9, Sp. L. November 1993; amd. Sec. 23, Ch. 451, L. 1995; amd. Sec. 12, Ch. 570, L. 1995; amd. Sec. 2, Ch. 219, L. 1997; amd. Sec. 3, Ch. 466, L. 1997; amd. Sec. 12, Ch. 51, L. 1999; amd. Sec. 6, Ch. 285, L. 1999; amd. Sec. 24, Ch. 426, L. 1999; amd. Sec. 19, Ch. 556, L. 1999; amd. Sec. 7, Ch. 7, L. 2001; amd. Sec. 8, Ch. 29, L. 2001.
MT Code § 7-7-2204 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2204. Effect of issuing bonds in excess of limitations on amount

  7-7-2204. Effect of issuing bonds in excess of limitations on amount. All bonds issued by any county in excess of the limitations fixed in 7-7-2203 shall be null and void.   History: En. Sec. 3, Ch. 188, L. 1931; amd. Sec. 1, Ch. 115, L. 1933; re-en. Sec. 4630.3, R.C.M. 1935; amd. Sec. 2, Ch. 135, L. 1937; amd. Sec. 12-103, Ch. 197, L. 1965; amd. Sec. 6, Ch. 100, L. 1973; amd. Sec. 6, Ch. 391, L. 1973; R.C.M. 1947, 16-2010(part).
MT Code § 7-7-2205 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2205. Nature of general obligation bonds

  7-7-2205. Nature of general obligation bonds. All bonds issued under the provisions of this part shall be legal and valid obligations of the county issuing the same, and the full faith and credit of such county are hereby irrevocably pledged for the prompt payment of both principal and interest thereof as the same become due.   History: En. Sec. 23, Ch. 188, L. 1931; re-en. Sec. 4630.23, R.C.M. 1935; R.C.M. 1947, 16-2037.
MT Code § 7-7-2206 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2206. Term of general obligation bonds

  7-7-2206. Term of general obligation bonds. (1) Bonds issued for any of the purposes designated in 7-7-2201(1) through (4) may not be for a longer term than 20 years.   (2) Bonds issued for any of the purposes designated in 7-7-2201(5) and (6) may not be for a longer term than 10 years.   (3) Bonds issued for any of the purposes designated in 7-7-2202 may not be for a longer term than 20 years.   (4) The length of the term required must be estimated and calculated by the board of county commissioners, based upon the percentage of valuation of the property upon which taxes are levied and paid within the county as ascertained from the last-completed assessment for state and county taxes, taking into account probable changes in the taxable valuation and losses in tax collections. Irrespective of any miscalculation by the county commissioners in fixing the term of the bonds, the county shall from year to year make a sufficient tax levy to pay the interest and installments on principal on the bonds as the payments are due.   (5) For purposes of 7-7-2207 and this section, the term of a bond issue commences on July 1 of the fiscal year in which the county first levies taxes to pay principal and interest on the bonds.   History: En. Sec. 4, Ch. 188, L. 1931; amd. Sec. 2, Ch. 115, L. 1933; re-en. Sec. 4630.4, R.C.M. 1935; amd. Sec. 3, Ch. 135, L. 1937; amd. Sec. 1, Ch. 33, L. 1943; amd. Sec. 6, Ch. 234, L. 1971; amd. Sec. 2, Ch. 284, L. 1973; R.C.M. 1947, 16-2011(part); amd. Sec. 1, Ch. 256, L. 1989; amd. Sec. 38, Ch. 574, L. 2001; amd. Sec. 3, Ch. 451, L. 2005.
MT Code § 7-7-2207 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2207. Redemption of bonds

  7-7-2207. Redemption of bonds. Other than refunding bonds, all bonds issued for a longer term than 5 years must be redeemable at the option of the county on any interest payment date after one-half of the term for which they were issued has expired, and the redemption option must be stated on the face of the bonds.   History: En. Sec. 4, Ch. 188, L. 1931; amd. Sec. 2, Ch. 115, L. 1933; re-en. Sec. 4630.4, R.C.M. 1935; amd. Sec. 3, Ch. 135, L. 1937; amd. Sec. 1, Ch. 33, L. 1943; amd. Sec. 6, Ch. 234, L. 1971; amd. Sec. 2, Ch. 284, L. 1973; R.C.M. 1947, 16-2011(part); amd. Sec. 4, Ch. 451, L. 2005.
MT Code § 7-7-2208 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2208. Repealed

  7-7-2208. Repealed. Sec. 2, Ch. 11, L. 1983.   History: En. Sec. 4, Ch. 188, L. 1931; amd. Sec. 2, Ch. 115, L. 1933; re-en. Sec. 4630.4, R.C.M. 1935; amd. Sec. 3, Ch. 135, L. 1937; amd. Sec. 1, Ch. 33, L. 1943; amd. Sec. 6, Ch. 234, L. 1971; amd. Sec. 2, Ch. 284, L. 1973; R.C.M. 1947, 16-2011(part).
MT Code § 7-7-2209 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2209. Types of bonds

  7-7-2209. Types of bonds. (1) Except as provided in subsection (2), bonds issued by any county must be either amortization bonds or serial bonds.   (2) Citizen bonds may be amortization bonds, serial bonds, term bonds, capital appreciation bonds, or zero-coupon bonds, without preference for amortization bonds.   History: En. Sec. 5, Ch. 188, L. 1931; re-en. Sec. 4630.5, R.C.M. 1935; amd. Sec. 1, Ch. 112, L. 1961; R.C.M. 1947, 16-2012(part); amd. Sec. 6, Ch. 559, L. 1993; amd. Sec. 4, Ch. 459, L. 1997.
MT Code § 7-7-2210 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2210. Amortization bonds

  7-7-2210. Amortization bonds. The term "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. The part payment of principal increases with each following installment in the same amount that the interest payment decreases, so that the combined amount payable on principal and interest is the same on each interest payment date. However, the payment on the initial interest payment date may be less or greater than the amount of other payments on the bond, reflecting the payment of interest only or the payment of interest for a period different from that between other interest payment dates. The final payment may vary in amount from the other payments to the extent resulting from rounding amounts in the other payments.   History: En. Sec. 5, Ch. 188, L. 1931; re-en. Sec. 4630.5, R.C.M. 1935; amd. Sec. 1, Ch. 112, L. 1961; R.C.M. 1947, 16-2012(part); amd. Sec. 3, Ch. 423, L. 1995.
MT Code § 7-7-2211 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2211. Serial bonds

  7-7-2211. Serial bonds. The term "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.   History: En. Sec. 5, Ch. 188, L. 1931; re-en. Sec. 4630.5, R.C.M. 1935; amd. Sec. 1, Ch. 112, L. 1961; R.C.M. 1947, 16-2012(part); amd. Sec. 1, Ch. 631, L. 1983; amd. Sec. 2, Ch. 256, L. 1989; amd. Sec. 5, Ch. 451, L. 2005.
MT Code § 7-7-2212 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2212. Citizen bonds authorized

  7-7-2212. Citizen bonds authorized. (1) A county authorized to sell general obligation bonds under this chapter may issue and sell a portion of the bonds in denominations of less than $5,000 by:   (a) competitive public sale, directly to members of the public, at preestablished interest rates; or   (b) private sale pursuant to 17-5-107.   (2) Bonds issued under 7-7-2212 through 7-7-2215 may be known as "citizen bonds".   (3) Citizen bonds may be issued for any purpose for which a county may issue general obligation bonds.   (4) An officer, employee, contracted financial consultant, or contracted adviser employed or retained by a county selling citizen bonds may not purchase those bonds.   History: En. Sec. 1, Ch. 559, L. 1993; amd. Sec. 2, Ch. 253, L. 2011.
MT Code § 7-7-2213 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2213. Citizen bonds -- procedural requirements prior to issuance

  7-7-2213. Citizen bonds -- procedural requirements prior to issuance. Prior to issuing citizen bonds, a county shall make available to interested investors:   (1) a preliminary official statement, a draft-form legal opinion from a recognized bond counsel, and a comparison to taxable yields at various income levels; and   (2) application forms for the purchase of citizen bonds that must specify at a minimum:   (a) the time, date, and place that applications will be received, the manner in which applications will be processed, and the conditions under which the sale may be canceled if the issue is not fully subscribed during the application period;   (b) the issue date, maturity dates, and the dates on which interest will be earned and paid;   (c) the denominations of the bonds and the maximum amount of the bonds that one buyer may purchase;   (d) the approximate yield on the bonds if held to maturity and the manner in which interest rates have been calculated; and   (e) the provision made for the transfer of ownership of outstanding bonds.   History: En. Sec. 2, Ch. 559, L. 1993; amd. Sec. 2, Ch. 94, L. 2007.
MT Code § 7-7-2214 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2214. Citizen bonds -- procedure when issue not fully subscribed

  7-7-2214. Citizen bonds -- procedure when issue not fully subscribed. If an entire issue of bonds is not fully subscribed during the period of time that the county has set for the sale of the bonds, the citizen bonds may be sold in the manner permitted for other county general obligation bonds.   History: En. Sec. 3, Ch. 559, L. 1993.
MT Code § 7-7-2215 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2215. Zero-coupon bonds and capital appreciation bonds

  7-7-2215. Zero-coupon bonds and capital appreciation bonds. The terms "zero-coupon bonds" and "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.   History: En. Sec. 4, Ch. 559, L. 1993.
MT Code § 7-7-2216 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2216. through 7-7-2220 reserved

  7-7-2216 through 7-7-2220 reserved.
MT Code § 7-7-2221 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 7. Debt Management|Part 22. County General Obligation Bonds|7-7-2221. Issuance of certain general obligation bonds without election

  7-7-2221. Issuance of certain general obligation bonds without election. Bonds may be issued without submitting the same to an election if the bonds are issued for the purpose of:   (1) enabling a county to liquidate its indebtedness to another county incident to the creation of a new county or the changing of a county boundary line, as set forth in 7-7-2201(5); and   (2) funding, paying in full, or compromising, settling, and satisfying any judgment which may have been rendered against the county in a court of competent jurisdiction, as set forth in 7-7-2202 and 15-1-402.   History: En. Sec. 6, Ch. 188, L. 1931; re-en. Sec. 4630.6, R.C.M. 1935; amd. Sec. 4, Ch. 135, L. 1937; amd. Sec. 2, Ch. 33, L. 1943; R.C.M. 1947, 16-2013(part); amd. Sec. 5, Ch. 213, L. 1989.