Terms Used In Montana Code > Title 20 > Chapter 9 > Part 4 - School Bonds

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affidavit: means a sworn written declaration made before an officer authorized to administer oaths or an unsworn written declaration made under penalty of perjury as provided in 1-6-105. See Montana Code 1-1-203
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• ANB: means the average number of regularly enrolled, full-time pupils physically attending a school of the district or an offsite instructional setting or receiving remote instruction from the public schools of a district. See Montana Code 20-1-101
• BASE: means base amount for school equity. See Montana Code 20-9-306
• budgeted fund: means any fund for which a budget must be adopted in order to expend money from the fund. See Montana Code 20-9-201
• community college district: means a body corporate and a subdivision of the state of Montana organized under a single board of trustees for the purpose of providing community college instruction open to all people, subject to uniform regulations as determined by the trustees. See Montana Code 20-15-101
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County superintendent: means the county government official who is the school officer of the county. See Montana Code 20-1-101
• district: means the territory, regardless of county boundaries, organized under the provisions of this title to provide public educational services under the jurisdiction of the trustees prescribed by this title. See Montana Code 20-6-101
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• federal impact aid basic support payment: means the annual impact aid revenue received by a district under 20 U. See Montana Code 20-9-406
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
• General obligation bonds: means bonds that pledge the full faith and credit and the taxing power of a school district. See Montana Code 20-9-408
• 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. See Montana Code 20-9-408
• Lien: A claim against real or personal property in satisfaction of a debt.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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. See Montana Code 20-9-408
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Principal: means a person who holds a valid class 3 Montana teacher certificate with an applicable principal's endorsement that has been issued by the superintendent of public instruction under the provisions of this title and the policies adopted by the board of public education and who has been employed by a district as a principal. See Montana Code 20-1-101
• Printing: means the act of reproducing a design on a surface by any process. See Montana Code 1-1-203
• Property: means real and personal property. See Montana Code 1-1-205
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
• School bus: means , except as provided in subsection (5)(b), any motor vehicle that complies with the bus standards established by the board of public education as verified by the department of justice's semiannual inspection of school buses and the superintendent of public instruction and:

  (i)is owned by a district or other public agency and operated for the transportation of pupils to or from school or owned by a carrier under contract with a district or public agency to provide transportation of pupils to or from school; or

  (ii)is district-owned, is designed to carry 10 or fewer passengers, has an overall safety rating of five stars from the national highway traffic safety administration at the time of purchase, and is insured in accordance with minimum coverage requirements set forth in 20-10-109. See Montana Code 20-10-101

• School election: means a regular school election or any election conducted by a district or community college district for authorizing taxation, authorizing the issuance of bonds by an elementary, high school, or K-12 district, or accepting or rejecting any proposition that may be presented to the electorate for decision in accordance with the provisions of this title. See Montana Code 20-1-101
• 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. See Montana Code 20-9-408
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• Superintendent of public instruction: means that state government official designated as a member of the executive branch by the Montana constitution. See Montana Code 20-1-101
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• Trustees: means the governing board of a district. See Montana Code 20-1-101
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Writ: means an order in writing issued in the name of the state or of a court or judicial officer. See Montana Code 1-1-202
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writing: includes printing. See Montana Code 1-1-203