reglab/housing_qa huggingface dataset:
MT Code § 7-15-4501 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4501. Authorization to issue bonds

  7-15-4501. Authorization to issue bonds. The authority shall have power and is hereby authorized to issue, from time to time in its discretion, for any of its corporate purposes:   (1) bonds on which the principal and interest are payable:   (a) exclusively from the income and revenues of the housing project financed with the proceeds of such bonds or with such proceeds together with the proceeds of a grant from the federal government to aid in financing the construction thereof; or   (b) exclusively from the income and revenues of certain designated housing projects, whether or not they were financed in whole or in part with the proceeds of such bonds; provided, however, that the credit of the authority shall not be pledged to the payment of such bonds, but such bonds shall be payable only (and the bonds shall so state on their face) from the revenues of the designated housing project or projects and the funds received from the sale or disposal thereof and, if the authority so determines, shall be additionally secured by a trust indenture pledging such revenues or, in certain instances as hereinafter provided, by a mortgage of the property comprising such designated housing project or projects and the revenue therefrom;   (2) bonds for the payment of the principal and interest of which the credit of the authority is pledged and which may be additionally secured by a pledge of the revenues of the authority or any part thereof pursuant to a resolution or trust indenture of the authority or, in certain instances as hereinafter provided, may be additionally secured by a mortgage of the property and revenues of the authority or any part thereof.   History: En. Sec. 14, Ch. 140, L. 1935; re-en. Sec. 5309.14, R.C.M. 1935; R.C.M. 1947, 35-114(part).
MT Code § 7-15-4502 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4502. Powers related to loans

  7-15-4502. Powers related to loans. An authority shall have power:   (1) to borrow money upon its bonds, notes, debentures, or other evidences of indebtedness and to secure the same by pledges of its revenues and (subject to the limitations hereinafter imposed) by mortgages upon property held or to be held by it or in any other manner;   (2) in connection with any loan, to agree to limitations upon its right to dispose of any housing project or part thereof or to undertake additional housing projects;   (3) in connection with any loan by a government, to agree to limitations upon the exercise of any powers conferred upon the authority by this part and part 44;   (4) to invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement in property or securities in which savings banks may legally invest funds subject to their control.   History: En. Sec. 9, Ch. 140, L. 1935; re-en. Sec. 5309.9, R.C.M. 1935; amd. Sec. 2, Ch. 68, L. 1953; amd. Sec. 4, Ch. 193, L. 1957; amd. Sec. 1, Ch. 259, L. 1974; R.C.M. 1947, 35-109(part).
MT Code § 7-15-4503 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4503. Nature of bonded indebtedness

  7-15-4503. Nature of bonded indebtedness. (1) Neither the commissioners of the authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof.   (2) The bonds and other obligations of the authority (and such bonds and obligations shall so state on their face) shall not be a debt of any city or municipality located within its boundaries or of the state, and neither the state nor any such city or municipality shall be liable thereon, nor in any event shall they be payable out of any funds or properties other than those of the authority.   (3) The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory provision of the laws of the state. Bonds may be issued under this part and part 44 notwithstanding any debt or other limitation prescribed by any statute.   History: En. Sec. 14, Ch. 140, L. 1935; re-en. Sec. 5309.14, R.C.M. 1935; R.C.M. 1947, 35-114(part).
MT Code § 7-15-4504 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4504. Bonds and other obligations to be fully negotiable

  7-15-4504. Bonds and other obligations to be fully negotiable. Any provision of any law to the contrary notwithstanding, any bonds, interim certificates, or other obligations issued pursuant to this part and part 44 shall be fully negotiable.   History: En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; R.C.M. 1947, 35-115(part).
MT Code § 7-15-4505 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4505. Housing authority bonds as legal investments

  7-15-4505. Housing authority bonds as legal investments. (1) The state and all public officers, municipal corporations, political subdivisions, and public bodies; all banks, bankers, trust companies, savings banks and institutions, buildings and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business; all insurance companies, insurance associations, and other persons carrying on an insurance business; and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, money, or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority established pursuant to the housing authorities law of this state or issued by any public housing authority or agency in the United States when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States government or any agency thereof.   (2) It is the purpose of this section to authorize any persons, firms, corporations, associations, political subdivisions, bodies, and officers, public or private, to use any funds owned or controlled by them, including but not limited to sinking, insurance, investment, retirement, compensation, pension, and trust funds and funds held on deposit, for the purchase of any such bonds or other obligations.   (3) Nothing contained in this section shall be construed as relieving any person, firm, or corporation from any duty of exercising reasonable care in selecting securities.   (4) Insofar as the provisions of this section are inconsistent with the provisions of any other law, the provisions of this section shall be controlling.   History: En. Secs. 1, 3, Ch. 218, L. 1943; R.C.M. 1947, 35-143(part), 35-144.
MT Code § 7-15-4506 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4506. Details relating to bonds

  7-15-4506. Details relating to bonds. (1) The bonds of the authority shall be authorized by its resolution and shall be issued in one or more series.   (2) The bonds shall bear such date or dates, mature at such time or times (not exceeding 60 years from their respective dates), bear interest at such rate or rates, be in such denominations (which may be made interchangeable), be in such form (either coupon or registered), carry such registration privileges, be executed in such manner, be payable in such medium of payment at such place or places, and be subject to such terms of redemption (with or without premium) as such resolution or its trust indenture or mortgage may provide.   (3) In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to:   (a) covenant as to the bonds to be issued pursuant to any resolution, trust indenture, mortgage, or other instrument; as to the issuance of such bonds in escrow or otherwise; and as to the use and disposition of the proceeds thereof;   (b) covenant as to what other or additional debt may be incurred by it;   (c) provide for the terms, form, registration, exchange, execution, and authentication of bonds;   (d) provide for the replacement of lost, destroyed, or mutilated bonds;   (e) covenant against extending the time for the payment of its bonds or interest thereon, directly or indirectly, by any means or in any manner.   History: (1), (2)En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; Sec. 35-115, R.C.M. 1947; (3)En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; Sec. 35-116, R.C.M. 1947; R.C.M. 1947, 35-115(part), 35-116(part).
MT Code § 7-15-4507 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4507. Sale of bonds

  7-15-4507. Sale of bonds. (1) Any bonds issued by the authority may be sold at public or private sale as determined by the authority pursuant to 17-5-107. If the authority conducts a public sale, the bonds may be sold after notice published once at least 10 days prior to the sale in a newspaper having a general circulation in the city and in a financial newspaper.   (2) The bonds may be sold at private sale pursuant to 17-5-107 without any public advertisement.   (3) The bonds may be sold at a price or prices as determined by the authority.   History: En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; R.C.M. 1947, 35-115(part); amd. Sec. 19, Ch. 253, L. 2011.
MT Code § 7-15-4508 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4508. Purchase of bonds by housing authority

  7-15-4508. Purchase of bonds by housing authority. (1) The authority shall have power out of any funds available therefor to purchase any bonds issued by it at a price not more than the principal amount thereof and the accrued interest; provided, however, that bonds payable exclusively from the revenues of a designated project or projects shall be purchased out of any such revenues available therefor. All bonds so purchased shall be canceled.   (2) This section shall not apply to the redemption of bonds.   History: En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; R.C.M. 1947, 35-115(part).
MT Code § 7-15-4509 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4509. Interim certificates

  7-15-4509. Interim certificates. Pending the authorization, preparation, execution, or delivery of definitive bonds, the authority may issue interim certificates or other temporary obligations to the purchaser of such bonds. Such interim certificates or other temporary obligations shall be in such form; contain such terms, conditions, and provisions; bear such date or dates; and evidence such agreements relating to their discharge or payment or the delivery of definitive bonds as the authority may by resolution, trust indenture, or mortgage determine.   History: En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; R.C.M. 1947, 35-115(part).
MT Code § 7-15-4510 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4510. Validity and sufficiency of signatures on bonds

  7-15-4510. Validity and sufficiency of signatures on bonds. In case any of the officers whose signatures appear on any bonds or coupons shall cease to be such officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes the same as if they had remained in office until such delivery.   History: En. Sec. 15, Ch. 140, L. 1935; re-en. Sec. 5309.15, R.C.M. 1935; amd. Sec. 37, Ch. 234, L. 1971; R.C.M. 1947, 35-115(part).
MT Code § 7-15-4511 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4511. Creation of special funds

  7-15-4511. Creation of special funds. In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to:   (1) create or authorize the creation of special funds in which there shall be segregated:   (a) the proceeds of any loan and/or grant;   (b) all of the rents, fees, and revenues of any housing project or projects or parts thereof;   (c) any money held for the payment of the costs of operation and maintenance of any such housing projects or as a reserve for the meeting of contingencies in the operation and maintenance thereof;   (d) any money held for the payment of the principal and interest on its bonds or the sums due under its leases and/or as a reserve for such payments; and   (e) any money held for any other reserves or contingencies; and   (2) covenant as to the use and disposal of the money held in such funds.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4512 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4512. Security for money deposited by housing authority

  7-15-4512. Security for money deposited by housing authority. (1) The authority may by resolution provide that all money deposited by it shall be secured by:   (a) obligations of the United States or of the state of a market value equal at all times to the amount of such deposits;   (b) any securities in which savings banks may legally invest funds within their control; or   (c) an undertaking with such sureties as shall be approved by the authority to faithfully keep and pay over upon the order of the authority any such deposits and agreed interest thereon.   (2) All banks and trust companies are authorized to give any such security for such deposits.   History: En. Sec. 24, Ch. 140, L. 1935; re-en. Sec. 5309.24, R.C.M. 1935; R.C.M. 1947, 35-124.
MT Code § 7-15-4513 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4513. through 7-15-4520 reserved

  7-15-4513 through 7-15-4520 reserved.
MT Code § 7-15-4521 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4521. General powers related to bonds and lease obligations

  7-15-4521. General powers related to bonds and lease obligations. (1) In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to:   (a) execute all instruments necessary or convenient in the exercise of the powers herein granted or in the performance of its covenants or duties, which may contain such covenants and provisions, in addition to those specified in 7-15-4506, 7-15-4511, and 7-15-4521 through 7-15-4528, as the government or any purchaser of the bonds of the authority may reasonably require;   (b) make such covenants and do any and all such acts and things as may be necessary or convenient or desirable in order to secure its bonds or, in the absolute discretion of the authority, tend to make the bonds more marketable, notwithstanding that such covenants, acts, or things may not be enumerated herein;   (c) make covenants, other than in addition to the covenants expressly authorized in this part or part 44, of like or different character.   (2) It is the intention of subsection (1)(b) hereof to give the authority power to do all things in the issuance of bonds, in the provisions for their security, that are not inconsistent with the constitution of the state, and no consent or approval of any judge or court shall be required thereof; provided, however, that the authority shall have no power to mortgage all or any part of its real or personal property except as provided in 7-15-4526.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4522 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4522. Redemption of bonds

  7-15-4522. Redemption of bonds. In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to redeem the bonds and covenant for their redemption and provide the terms and conditions thereof.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4523 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4523. Amendment or abrogation of bond contracts

  7-15-4523. Amendment or abrogation of bond contracts. In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4524 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4524. Bond provisions related to determination and use of rents and fees

  7-15-4524. Bond provisions related to determination and use of rents and fees. In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to:   (1) pledge by resolution, trust indenture, mortgage (subject to the limitations imposed in this part), or other contract all or any part of its rents, fees, or revenues;   (2) covenant against pledging all or any part of its rents, fees, and revenues to which its right then exists or the right to which may thereafter come into existence or against permitting or suffering any lien thereon;   (3) covenant as to the rents and fees to be charged, as to the amount (calculated as may be determined) to be raised each year or other period of time by rents, fees, and other revenues, and as to the use and disposition to be made thereof.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4525 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4525. Bond provisions related to management and use of property

  7-15-4525. Bond provisions related to management and use of property. In connection with the issuance of bonds and/or the incurring of any obligation under a lease and in order to secure the payment of such bonds and/or obligations, the authority shall have power to:   (1) covenant against mortgaging all or any part of its real or personal property, then owned or thereafter acquired, or against permitting or suffering any lien thereon;   (2) covenant with respect to limitations on its right to sell, lease, or otherwise dispose of any housing project or any part thereof or with respect to limitations on its right to undertake additional housing projects;   (3) provide for the release of property, rents, fees, and revenues from any pledge or mortgage and reserve rights and powers in or the right to dispose of property which is subject to a pledge or mortgage;   (4) covenant that the authority warrants the title to the premises;   (5) covenant as to the use of any or all of its real or personal property;   (6) covenant as to the maintenance of its property, the replacement thereof, the insurance to be carried thereon, and the use and disposition of insurance money.   History: En. Sec. 16, Ch. 140, L. 1935; re-en. Sec. 5309.16, R.C.M. 1935; R.C.M. 1947, 35-116(part).
MT Code § 7-15-4526 (2021)
2021 Montana Code Annotated|Title 7. Local Government|Chapter 15. Housing and Construction|Part 45. Municipal Housing Authorities Continued|7-15-4526. Power to mortgage property when government financing involved

  7-15-4526. Power to mortgage property when government financing involved. (1) In connection with any project financed in whole or in part by a government, the authority shall also have power to mortgage all or any part of its real or personal property, then owned or thereafter acquired, and thereby:   (a) to vest in a government the right, upon the happening of an event of default (as defined in such mortgage), to foreclose such mortgage through judicial proceedings or through the exercise of a power of sale without judicial proceedings so long as a government shall be the holder of any of the bonds secured by such mortgage;   (b) to vest in a trustee or trustees the right, upon the happening of an event of default (as defined in such mortgage), to foreclose such mortgage through judicial proceedings or through the exercise of a power of sale without judicial proceedings, but only with the consent of the government which aided in financing the housing project involved;   (c) to vest in other obligees the right to foreclose such mortgage by judicial proceedings, but only with the consent of the government which aided in financing the project involved;   (d) to vest in an obligee, including a government, the right in foreclosing any mortgage as aforesaid, to foreclose such mortgage as to all or such part or parts of the property covered thereby as such obligee in its absolute discretion shall elect.   (2) The institution, prosecution, and conclusion of any foreclosure proceedings authorized by subsection (1)(d) and/or the sale of any such parts of the mortgaged property shall not affect in any manner or to any extent the lien of the mortgage on the parts of the mortgaged property not included in such proceedings or not sold as aforesaid.   History: En. Sec. 17, Ch. 140, L. 1935; re-en. Sec. 5309.17, R.C.M. 1935; R.C.M. 1947, 35-117.