Rule 36.23.110 - GENERAL OBLIGATION BONDS(1) The department may accept general obligation bonds issued by a municipality, upon the following terms:(a) the bond will not cause the municipality to exceed its statutory indebtedness limitation;(b) all statutory requirements for the issuance of such bonds shall have been met prior to the issuance of the bonds; and(c) the election authorizing the issuance of the bonds has been conducted by the date of a binding commitment unless such requirement is waived by the department.(2) The department may accept general obligation bonds issued by county water and sewer districts upon the following terms:(a) all statutory requirements for the issuance of such bonds shall have been met prior to the issuance of the bonds; and(b) the election authorizing the issuance of the bonds has been conducted by the date of a binding commitment unless such requirement is waived by the department.Mont. Admin. r. 36.23.110
NEW, 1998 MAR p. 1412, Eff. 5/29/98; AMD, 2004 MAR p. 2288, Eff. 9/24/04.75-6-205, MCA; IMP, 75-6-222, MCA;