reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-343. Definition of and revenue for state equalization aid

20-9-343. Definition of and revenue for state equalization aid.
(1) As used in this title, the term "state equalization aid" means revenue as required in this section for distribution to the public schools for guaranteed tax base aid, BASE aid, and state debt service assistance.
(2) The superintendent of public instruction may spend throughout the biennium funds appropriated for the purposes of guaranteed tax base aid, BASE aid for the BASE funding program, and state debt service assistance.
(3) The following money must be paid into the guarantee account provided for in 20-9-622 for the public schools of the state as indicated:
(a) subject to 20-9-516(2)(a), interest and income money described in 20-9-341 and 20-9-342; and
(b) investment income earned by investing interest and income money described in 20-9-341 and 20-9-342.
History: En. 75-6916 by Sec. 266, Ch. 5, L. 1971; amd. Sec. 12, Ch. 137, L. 1973; amd. Sec. 3, Ch. 355, L. 1973; amd. Sec. 12, Ch. 502, L. 1975; amd. Sec. 1, Ch. 356, L. 1977; R.C.M. 1947, 75-6916; amd. Sec. 15, Ch. 634, L. 1979; amd. Sec. 2, Ch. 317, L. 1981; amd. Sec. 1, Ch. 277, L. 1983; amd. Sec. 2, Ch. 20, Sp. L. June 1986; amd. Sec. 70, Ch. 370, L. 1987; amd. Sec. 3, Ch. 662, L. 1987; amd. Sec. 5, Ch. 666, L. 1987; amd. Sec. 37, Ch. 11, Sp. L. June 1989; amd. Sec. 5, Ch. 622, L. 1991; amd. Secs. 1, 3, Ch. 729, L. 1991; amd. Sec. 18, Ch. 787, L. 1991; amd. Sec. 6, Ch. 375, L. 1993; amd. Sec. 8, Ch. 593, L. 1993; amd. Sec. 24, Ch. 633, L. 1993; amd. Sec. 36, Ch. 509, L. 1995; amd. Sec. 4, Ch. 517, L. 1995; amd. Sec. 17, Ch. 237, L. 2001; amd. Sec. 5, Ch. 554, L. 2001; amd. Secs. 3, 5, Ch. 10, Sp. L. August 2002; amd. Sec. 13, Ch. 377, L. 2009; amd. Sec. 4, Ch. 404, L. 2017; amd. Sec. 6, Ch. 371, L. 2021.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-345. Repealed

20-9-345. Repealed.
Sec. 7, Ch. 317, L. 1981.
History: En. 75-6917.1 by Sec. 2, Ch. 55, L. 1974; R.C.M. 1947, 75-6917.1; amd. Sec. 1, Ch. 540, L. 1981.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-347. Distribution of BASE aid and special education allowable cost payments in support of BASE funding program -- exceptions

20-9-347. Distribution of BASE aid and special education allowable cost payments in support of BASE funding program -- exceptions.
(1) The superintendent of public instruction shall:
(a) supply the county treasurer and the county superintendent with a monthly report of the payment of BASE aid in support of the BASE funding program of each district of the county;
(b) in the manner described in 20-9-344, provide for a state advance to each county in an amount that is no less than the amount anticipated to be raised for the elementary and high school county equalization funds as provided in 20-9-331 and 20-9-333; and
(c) adopt rules to implement the provisions of subsection (1)(b).
(2) (a) The superintendent of public instruction is authorized to adjust the schedule prescribed in 20-9-344 for distribution of the BASE aid payments if the distribution will cause a district to register warrants under the provisions of 20-9-212(8).
(b) To qualify for an adjustment in the payment schedule, a district shall demonstrate to the superintendent of public instruction, in the manner required by the office, that the payment schedule prescribed in 20-9-344 will result in insufficient money available in all funds of the district to make payment of the district's warrants. The county treasurer shall confirm the anticipated deficit. This section may not be construed to authorize the superintendent of public instruction to exceed a district's annual payment for BASE aid.
(3) The superintendent of public instruction shall:
(a) distribute special education allowable cost payments to districts; and
(b) supply the county treasurer and the county superintendent of schools with a report of payments for special education allowable costs to districts of the county.
History: En. 75-6919 by Sec. 269, Ch. 5, L. 1971; R.C.M. 1947, 75-6919; amd. Sec. 40, Ch. 11, Sp. L. June 1989; amd. Sec. 10, Ch. 6, Sp. L. July 1992; amd. Sec. 27, Ch. 633, L. 1993; amd. Sec. 25, Ch. 22, L. 1997; amd. Sec. 114, Ch. 42, L. 1997.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-348. Estimation of state equalization aid for budget purposes

20-9-348. Estimation of state equalization aid for budget purposes.
The apportionment of state equalization aid shall be the second source of revenue in calculating the financing of the elementary district BASE funding program and the high school district BASE funding program. In order to allow for the estimation of the amount of money to be realized from this source of revenue when the county superintendent is estimating the general fund budget revenues, the county superintendent shall consider that the state BASE funding program revenues and county equalization moneys, together, will be capable of financing 100% of the BASE funding program.
History: En. 75-6920 by Sec. 270, Ch. 5, L. 1971; R.C.M. 1947, 75-6920; amd. Sec. 5, Ch. 299, L. 1985.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-351. Funding of deficiency in BASE aid

20-9-351. Funding of deficiency in BASE aid.
If the money available for BASE aid is not the result of a reduction in spending under 17-7-140 and is not sufficient to provide the guaranteed tax base aid required under 20-9-366 through 20-9-369 and BASE aid support determined under 20-9-347, the superintendent of public instruction shall request the budget director to submit a request for a supplemental appropriation in the second year of the biennium that is sufficient to complete the funding of BASE aid for the elementary and high school districts for the current biennium.
History: En. 75-6921 by Sec. 271, Ch. 5, L. 1971; amd. Sec. 4, Ch. 355, L. 1973; R.C.M. 1947, 75-6921; amd. Sec. 3, Ch. 317, L. 1981; amd. Sec. 2, Ch. 540, L. 1981; amd. Sec. 4, Ch. 15, L. 1985; amd. Sec. 6, Ch. 299, L. 1985; amd. Sec. 41, Ch. 11, Sp. L. June 1989; amd. Sec. 3, Ch. 5, Sp. L. July 1992; amd. Sec. 28, Ch. 633, L. 1993.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-352. Repealed

20-9-352. Repealed.
Sec. 94, Ch. 11, Sp. L. June 1989.
History: En. 75-6922 by Sec. 272, Ch. 5, L. 1971; amd. Sec. 5, Ch. 355, L. 1973; amd. Sec. 1, Ch. 212, L. 1975; R.C.M 1947, 75-6922; amd. Sec. 4, Ch. 317, L. 1981; amd. Sec. 3, Ch. 540, L. 1981; amd. Sec. 1, Ch. 277, L. 1983; amd. Sec. 3, Ch. 418, L. 1983; amd. Sec. 4, Ch. 699, L. 1983; amd. Sec. 5, Ch. 15, L. 1985; amd. Sec. 4, Ch. 265, L. 1985; amd. Sec. 15, Ch. 695, L. 1985; amd. Sec. 18, Ch. 611, L. 1987; amd. Sec. 22, Ch. 655, L. 1987; amd. Sec. 30, Ch. 83, L. 1989; amd. Sec. 86, Ch. 11, Sp. L. June 1989.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-360. State equalization aid levy

20-9-360. State equalization aid levy.
Subject to 15-10-420, there is a levy of 40 mills imposed by the county commissioners of each county on all taxable property within the state, except property for which a tax or fee is required under 61-3-321(2) or (3), 61-3-529, 61-3-537, 61-3-562, 61-3-570, and 67-3-204. Proceeds of the levy must be remitted to the department of revenue, as provided in 15-1-504, and must be deposited to the credit of the school equalization and property tax reduction account established in 20-9-336 for state equalization aid to the public schools of Montana.
History: En. Sec. 50, Ch. 11, Sp. L. June 1989; amd. Sec. 30, Ch. 767, L. 1991; amd. Sec. 38, Ch. 509, L. 1995; amd. Sec. 5, Ch. 580, L. 1995; amd. Sec. 31, Ch. 422, L. 1997; amd. Sec. 12, Ch. 496, L. 1997; amd. Sec. 17, Ch. 515, L. 1999; amd. Sec. 113, Ch. 584, L. 1999; amd. Sec. 13, Ch. 257, L. 2001; amd. Sec. 19, Ch. 542, L. 2005; amd. Sec. 4, Ch. 772, L. 2023.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-361. County equalization revenue

20-9-361. County equalization revenue.
Revenue received in support of county equalization under the provisions of 20-9-331 and 20-9-333 is to be used for county equalization aid for the public schools, as provided by law, and must be accounted for in accordance with generally accepted accounting principles.
History: En. Sec. 51, Ch. 11, Sp. L. June 1989; amd. Sec. 2, Ch. 729, L. 1991; amd. Sec. 39, Ch. 509, L. 1995; amd. Sec. 32, Ch. 422, L. 1997.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-367. Eligibility to receive guaranteed tax base aid or state debt service assistance for school facilities

20-9-367. Eligibility to receive guaranteed tax base aid or state debt service assistance for school facilities.
(1) If the district guaranteed tax base ratio of an elementary or high school district is less than the corresponding statewide elementary or high school guaranteed tax base ratio, the district may receive guaranteed tax base aid based on the number of mills levied in the district in support of up to 35.3% of the basic entitlement, up to 35.3% of the total per-ANB entitlement, and up to 40% of the special education allowable cost payment budgeted within the general fund budget.
(2) If the county retirement mill value per elementary ANB or the county retirement mill value per high school ANB is less than the corresponding statewide mill value per elementary ANB or high school ANB, the county may receive guaranteed tax base aid based on the number of mills levied in the county in support of the retirement fund budgets of the respective elementary or high school districts in the county.
(3) For the purposes of 20-9-370 and 20-9-371, if the district mill value per elementary ANB or the district mill value per high school ANB is less than the corresponding statewide mill value per elementary ANB or statewide mill value per high school ANB, the district may receive debt service assistance in the form of a state advance or reimbursement for school facilities in support of the debt service fund.
History: En. Sec. 61, Ch. 11, Sp. L. June 1989; amd. Sec. 8, Ch. 711, L. 1991; amd. Sec. 32, Ch. 767, L. 1991; amd. Sec. 31, Ch. 633, L. 1993; amd. Sec. 2, Ch. 586, L. 1995; amd. Secs. 4, 5, Ch. 211, L. 1999; amd. Sec. 9, Ch. 11, Sp. L. May 2000; amd. Sec. 5, Ch. 404, L. 2017.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-368. Amount of guaranteed tax base aid

20-9-368. Amount of guaranteed tax base aid.
(1) The amount of guaranteed tax base aid per ANB that a county may receive in support of the retirement fund budgets of the elementary school districts in the county is the difference between the county mill value per elementary ANB and the statewide mill value per elementary ANB, multiplied by the number of mills levied in support of the retirement fund budgets for the elementary districts in the county.
(2) The amount of guaranteed tax base aid per ANB that a county may receive in support of the retirement fund budgets of the high school districts in the county is the difference between the county mill value per high school ANB and the statewide mill value per high school ANB, multiplied by the number of mills levied in support of the retirement fund budgets for the high school districts in the county.
(3) The amount of guaranteed tax base aid that a district may receive in support of up to 35.3% of the basic entitlement, up to 35.3% of the total per-ANB entitlement budgeted within the general fund budget, and up to 40% of the special education payment is calculated in the following manner:
(a) multiply the sum of the district's prior year GTBA budget area by the corresponding statewide guaranteed tax base ratio;
(b) subtract the prior year taxable valuation of the district from the product obtained in subsection (3)(a); and
(c) divide the remainder by 1,000 to determine the equivalent to the dollar amount of guaranteed tax base aid for each mill levied.
(4) Guaranteed tax base aid provided to any county or district under this section is earmarked to finance the fund or portion of the fund for which it is provided. If a county or district receives more guaranteed tax base aid than it is entitled to, the excess must be returned to the state as required by 20-9-344.
History: En. Sec. 62, Ch. 11, Sp. L. June 1989; amd. Sec. 9, Ch. 711, L. 1991; amd. Sec. 33, Ch. 767, L. 1991; amd. Sec. 32, Ch. 633, L. 1993; amd. Secs. 6, 7, Ch. 211, L. 1999; amd. Sec. 10, Ch. 11, Sp. L. May 2000; amd. Sec. 3, Ch. 8, L. 2015.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-369. Duties of superintendent of public instruction and department of revenue

20-9-369. Duties of superintendent of public instruction and department of revenue.
(1) The superintendent of public instruction shall administer the distribution of guaranteed tax base aid by:
(a) providing each school district and county superintendent, by March 1 of each year, with the preliminary statewide and district guaranteed tax base ratios and, by May 1 of each year, with the final statewide and district guaranteed tax base ratios, for use in calculating the guaranteed tax base aid available for the ensuing school fiscal year;
(b) providing each school district and county superintendent, by March 1 of each year, with the preliminary statewide, county, and district mill values per ANB and, by May 1 of each year, with the final statewide, county, and district mill values per ANB, for use in calculating the guaranteed tax base aid and state advance and reimbursement for school facilities available to counties and districts for the ensuing school fiscal year;
(c) requiring each county and district that qualifies and applies for guaranteed tax base aid to report to the county superintendent all budget and accounting information required to administer the guaranteed tax base aid;
(d) keeping a record of the complete data concerning appropriations available for guaranteed tax base aid and the entitlements for the aid of the counties and districts that qualify;
(e) distributing the guaranteed tax base aid entitlement to each qualified county or district from the appropriations for that purpose.
(2) The superintendent shall adopt rules necessary to implement 20-9-366 through 20-9-369.
(3) The department of revenue shall provide the superintendent of public instruction by December 1 of each year a final determination of the taxable value of property within each school district and county of the state reported to the department of revenue based on information delivered to the county clerk and recorder as required in 15-10-305.
(4) The superintendent of public instruction shall calculate the district and statewide guaranteed tax base ratios by applying the prior year's direct state aid payment.
History: En. Sec. 63, Ch. 11, Sp. L. June 1989; amd. Sec. 2, Ch. 790, L. 1991; amd. Sec. 34, Ch. 633, L. 1993; amd. Sec. 3, Ch. 586, L. 1995.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-370. Definitions

20-9-370. Definitions.
As used in this title, unless the context clearly indicates otherwise, the following definitions apply:
(1) "School facility entitlement" means:
(a) $300 per ANB for an elementary school district;
(b) $450 per ANB for a high school district; or
(c) $370 per ANB for an approved and accredited junior high school or middle school.
(2) "State advance for school facilities" is the amount of state equalization aid distributed to an eligible district to pay the debt service obligation for a bond in the first school fiscal year in which a debt service payment is due for the bond.
(3) "State reimbursement for school facilities" means the amount of state equalization aid distributed to a district that:
(a) has a district mill value per ANB that is less than the corresponding facility guaranteed mill value per ANB; and
(b) has a debt service obligation in the ensuing school year on bonds.
(4) "Total school facility entitlement" means the school facility entitlement times the total ANB for the district.
History: En. Sec. 38, Ch. 633, L. 1993; amd. Sec. 38, Ch. 18, L. 1995; amd. Sec. 4, Ch. 586, L. 1995; amd. Sec. 5, Ch. 550, L. 2003.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-371. Calculation and uses of school facility entitlement amount

20-9-371. Calculation and uses of school facility entitlement amount.
(1) The state reimbursement for school facilities for a district is the percentage determined in 20-9-346(2)(b) times (1-(district mill value per ANB/facility guaranteed mill value per ANB)) times the lesser of the total school facility entitlement calculated under the provisions of 20-9-370 or the district's current year debt service obligations on general obligation bonds that qualify under the provisions of 20-9-370(3).
(2) The state advance for school facilities for a district is determined as follows:
(a) Calculate the percentage of the district's debt service payment that will be advanced by the state using the district ANB, the district mill value and the statewide mill value for the current year, and the percentage used to determine the proportionate share of state reimbursement for school facilities in the prior year.
(b) Multiply the percentage determined in subsection (2)(a) by the lesser of the total school facility entitlement calculated under the provisions of 20-9-370 or the district's current year debt service obligation for general obligation bonds to which the state advance applies.
(3) Within the available appropriation, the superintendent of public instruction shall first distribute to eligible districts the state advance for school facilities. From the remaining appropriation, the superintendent shall distribute to eligible districts the state reimbursement for school facilities.
(4) The trustees of a district may apply the state reimbursement for school facilities to reduce the levy requirement in the ensuing school fiscal year for all outstanding bonded indebtedness on general obligation bonds sold in the debt service fund of the district. The trustees may apply the state advance for school facilities to reduce the levy requirement in the current school fiscal year for debt service payments on general obligation bonds to which the state advance for school facilities applies.
History: En. Sec. 39, Ch. 633, L. 1993; amd. Sec. 5, Ch. 586, L. 1995; amd. Sec. 1, Ch. 492, L. 2003; amd. Sec. 6, Ch. 550, L. 2003.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-375. Repealed

20-9-375. Repealed.
Sec. 22, Ch. 462, L. 2005.
History: En. Sec. 3, Ch. 437, L. 1997; amd. Sec. 1, Ch. 474, L. 2001.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-376. Purpose of increased funding beyond inflation

20-9-376. Purpose of increased funding beyond inflation.
The increases in state funding of BASE aid, as defined in 20-9-306, that a school district uses to increase its previous year's adopted general fund budget by an amount in excess of the inflation calculated in compliance with 20-9-326 are for the purpose of assisting school districts in meeting costs of implementing the changes to the Administrative Rules of Montana adopted by the Montana board of public education during fiscal years 2012 and 2013 and to continue to enhance efforts at improving academic achievement for students enrolled in Montana's public schools.
History: En. Sec. 33, Ch. 400, L. 2013.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 3. Funding of Basic System of Quality Public Schools › 20-9-380. School facilities fund -- school major maintenance aid special revenue account

20-9-380. School facilities fund -- school major maintenance aid special revenue account.
(1) There is a school facilities fund administered by the department of administration. Pursuant to 17-5-703, a percentage of coal severance taxes received by the state must be deposited into this fund. Earnings not transferred to the school major maintenance aid account as provided in subsection (2) must be retained in the school facilities fund.
(2) The school major maintenance aid account established in 20-9-525 receives earnings from the school facilities fund as provided in 17-5-703.
(3) A school district that receives funds from the school major maintenance aid account shall, within 30 days of receiving the funds, file with the office of the superintendent of public instruction a document acknowledging it has received funds from the coal severance tax trust fund.
History: En. Sec. 1, Ch. 377, L. 2017; amd. Sec. 3, Ch. 259, L. 2017.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-401. Applicable laws for school district bonding

20-9-401. Applicable laws for school district bonding.
(1) The school district bonding provisions of this title and all applicable laws of the state shall govern:
(a) the issuance, refunding, and sale of school district bonds;
(b) the levying of taxes for payment of the principal and interest on school district bonds; and
(c) the redemption of bonds.
(2) Should there be a conflict between the provisions of this title and the provisions of any other law of the state, the provisions of this title shall govern.
History: En. 75-7101 by Sec. 302, Ch. 5, L. 1971; R.C.M. 1947, 75-7101.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-402. Definition of school district for bonding purposes

20-9-402. Definition of school district for bonding purposes.
For the purposes of indebting an elementary district, a high school district, or a community college district by the issuance of bonds under the provisions of this title, the term "school district" means any elementary district, high school district, county high school district, or community college district.
History: En. 75-7102 by Sec. 303, Ch. 5, L. 1971; amd. Sec. 1, Ch. 419, L. 1973; R.C.M. 1947, 75-7102; amd. Sec. 19, Ch. 219, L. 1997.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-403. Bond issues for certain purposes

20-9-403. Bond issues for certain purposes.
(1) The trustees of a school district may issue and negotiate general obligation bonds, oil and natural gas revenue bonds, or impact aid bonds of the school district for the purpose of:
(a) building, altering, repairing, buying, furnishing, equipping, purchasing lands for, or obtaining a water supply for a school, teacherage, dormitory, gymnasium, other building, or combination of buildings for school purposes;
(b) buying a school bus or buses;
(c) providing the necessary money to redeem matured bonds, maturing bonds, or coupons appurtenant to bonds when there is not sufficient money to redeem them;
(d) providing the necessary money to redeem optional or redeemable bonds when it is for the best interest of the school district to issue refunding bonds;
(e) funding a judgment against the district, including the repayment of tax protests lost by the district; or
(f) funding a debt service reserve account that may be required for oil and natural gas revenue bonds or impact aid revenue bonds.
(2) Money realized from the sale of bonds issued on the credit of a high school district may not be used for any of the purposes listed in subsection (1) in an elementary school district, and the money may be used for any of the purposes listed in subsection (1) for a junior high school but only to the extent that the 9th grade of the high school is served.
(3) 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.
History: En. 75-7103 by Sec. 304, Ch. 5, L. 1971; amd. Sec. 1, Ch. 76, L. 1973; amd. Sec. 1, Ch. 189, L. 1973; R.C.M. 1947, 75-7103; amd. Sec. 23, Ch. 658, L. 1987; amd. Sec. 8, Ch. 213, L. 1989; amd. Sec. 2, Ch. 492, L. 2003; amd. Sec. 21, Ch. 489, L. 2009; amd. Sec. 16, Ch. 400, L. 2013.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-404. Contracts and bonds for joint construction

20-9-404. Contracts and bonds for joint construction.
(1) The trustees of a school district may enter into a contract with the trustees of any school district within the county, with any school district in an adjoining county, with the governing body of another political subdivision within the county in which the school district is located, or with the governing body of a political subdivision of a county adjoining the school district to provide for the joint construction of a facility upon terms and conditions mutually agreed upon between the districts.
(2) The trustees of any district executing a contract in accordance with this section may, subject to 15-10-420, levy taxes and issue bonds for the purpose of constructing the facilities authorized by this section.
History: En. 75-7103.1 by Sec. 1, Ch. 371, L. 1975; R.C.M. 1947, 75-7103.1; amd. Sec. 2, Ch. 397, L. 1997; amd. Sec. 1, Ch. 166, L. 1999; amd. Sec. 114, Ch. 584, L. 1999.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-405. Proportional joint ownership -- disposition of money

20-9-405. Proportional joint ownership -- disposition of money.
The facility constructed under 20-9-404 must be jointly owned by the school districts or other political subdivisions contributing to its construction in proportion to the contribution of each political subdivision. The sale or other disposition of a district's interest in the facility must be made in accordance with 20-6-604. Money received from the sale or disposition of a district's interest in a facility must be credited to the debt service fund, building fund, general fund, or any combination of these three funds, at the discretion of the trustees.
History: En. 75-7103.2 by Sec. 2, Ch. 371, L. 1975; R.C.M. 1947, 75-7103.2; amd. Sec. 3, Ch. 397, L. 1997; amd. Sec. 2, Ch. 166, L. 1999.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-407. Industrial facility agreement for bond issue in excess of maximum

20-9-407. Industrial facility agreement for bond issue in excess of maximum.
(1) Pursuant to an agreement between a new major industrial facility and a school district and as a precondition to qualifying as class five property under 15-6-135(1)(c) before the amendment of 15-6-135 in Chapter 644, Laws of 2023, the new major industrial facility and its owners shall pay, in addition to the taxes imposed by the school district on property owners generally, as much of the principal and interest on the bonds provided for under former subsection (1) of this section before the amendment in Chapter 644, Laws of 2023 as represents payment on an indebtedness in excess of the limitation prescribed in 20-9-406. After the completion of the new major industrial facility and when the indebtedness of the school district no longer exceeds the limitation prescribed in former subsection (1) of this section before the amendment in Chapter 644, Laws of 2023, the new major industrial facility is entitled, after all the current indebtedness of the school district has been paid, to a tax credit over a period of no more than 20 years. The credit must as a total amount be equal to the amount that the facility paid the principal and interest of the school district's bonds in excess of its general liability as a taxpayer within the district.
(2) A major industrial facility is a facility subject to the taxing power of the school district, whose construction or operation will increase the population of the district, imposing a significant burden upon the resources of the district and requiring construction of new school facilities. A significant burden is an increase in ANB of at least 20% in a single year.
History: En. 75-7104 by Sec. 305, Ch. 5, L. 1971; amd. Sec. 3, Ch. 33, L. 1973; amd. Sec. 32, Ch. 100, L. 1973; amd. Sec. 1, Ch. 353, L. 1974; amd. Sec. 1, Ch. 56, L. 1975; amd. Sec. 1, Ch. 432, L. 1975; amd. Sec. 46, Ch. 566, L. 1977; R.C.M. 1947, 75-7104(3) thru (5); amd. Sec. 26, Ch. 693, L. 1979; amd. Sec. 3, Ch. 15, L. 1985; amd. Sec. 2, Ch. 279, L. 2007; amd. Sec. 2, Ch. 307, L. 2015; amd. Sec. 3, Ch. 644, L. 2023.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-408. Definition of forms of bonds

20-9-408. Definition of forms of bonds.
As used in this part, the following definitions apply:
(1) "Amortization bond" 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 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 from prior payments in amount as a result of rounding prior payments.
(2) "General obligation bonds" means bonds that pledge the full faith and credit and the taxing power of a school district.
(3) "Impact aid revenue bonds" means bonds that pledge and are payable solely from federal impact aid basic support payments received and deposited to the credit of the fund established in 20-9-514.
(4) "Oil and natural gas revenue bonds" means bonds that pledge and are payable from a first lien on oil and natural gas production taxes received by a school district pursuant to 20-9-310. Oil and natural gas revenue bonds to which a tax deficiency is pledged are not considered general obligation bonds that are eligible to receive guaranteed tax base aid pursuant to 20-9-367 but are to be considered in determining the debt limit of a school district for the purposes of 20-9-406.
(5) "Serial bonds" 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. 75-7105 by Sec. 306, Ch. 5, L. 1971; R.C.M. 1947, 75-7105; amd. Sec. 7, Ch. 631, L. 1983; amd. Sec. 7, Ch. 256, L. 1989; amd. Sec. 40, Ch. 423, L. 1995; amd. Sec. 4, Ch. 492, L. 2003; amd. Sec. 18, Ch. 451, L. 2005; amd. Sec. 24, Ch. 44, L. 2007; amd. Sec. 18, Ch. 400, L. 2013.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-409. Repealed

20-9-409. Repealed.
Sec. 52, Ch. 423, L. 1995.
History: En. 75-7106 by Sec. 307, Ch. 5, L. 1971; R.C.M. 1947, 75-7106.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-410. Limitation of term and interest -- timing for redemption

20-9-410. Limitation of term and interest -- timing for redemption.
(1) School district bonds may not be issued for a term longer than 30 years, except that bonds issued to refund or redeem outstanding bonds may not be issued for a term longer than 10 years unless the unexpired term of the bonds to be refunded or redeemed is in excess of 10 years, in which case the refunding or redeeming bonds may be issued for the unexpired term. Other than refunding or redeeming bonds, all bonds issued for a longer term than 5 years must be redeemable at the option of the school district 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. The interest must be as provided under 17-5-102 and must be payable semiannually.
(2) For purposes of this section, the term of a bond issue commences on July 1 of the fiscal year in which the school district first levies taxes to pay the principal and interest on the bonds.
History: En. 75-7107 by Sec. 308, Ch. 5, L. 1971; amd. Sec. 7, Ch. 234, L. 1971; amd. Sec. 3, Ch. 284, L. 1973; R.C.M. 1947, 75-7107; amd. Sec. 11, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 71, Ch. 370, L. 1987; amd. Sec. 8, Ch. 256, L. 1989; amd. Sec. 19, Ch. 451, L. 2005; amd. Sec. 1, Ch. 337, L. 2017; amd. Sec. 1, Ch. 137, L. 2019.
2023 Montana Code Annotated › Title 20. Education › Chapter 9. Finance › Part 4. School Bonds › 20-9-411. Dates of issue and payments

20-9-411. Dates of issue and payments.
In order that the dates of payment of installments on school district bond issues may coincide as nearly as possible with the largest monthly tax collections, all school district bonds shall preferably bear a date of some day in June or December. For this reason, the bonds may be dated back not more than 5 months from the time of the actual sale, but no interest shall be charged on these bonds before they have been delivered to the purchaser and payment has been made by the purchaser. Interest accrued on such bonds according to their terms at the time of delivery shall either be refunded by the purchaser or deducted from the first interest payments. The failure to date such bonds in June or December shall not affect their validity.
History: En. 75-7108 by Sec. 309, Ch. 5, L. 1971; R.C.M. 1947, 75-7108.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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 BALLOT
SCHOOL 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)?
If this bond is passed, based on the taxable value of the school district, the property taxes on a home with an assessed market value for tax purposes of $100,000 would increase by $.......... in the first year, of $300,000 would increase by $.......... in the first year, and of $600,000 would increase by $.......... in the first year. An increase in property taxes may lead to an increase in rental costs.
☐ BONDS -- YES.
☐ BONDS -- NO.
(3) The school district conducting the bond election may replace the estimate of the impact of the election on a home valued at $600,000 with an estimate of the impact of the election on a home of a different value.
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; amd. Sec. 5, Ch. 653, L. 2023.
2023 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.