Montana Code 17-5-1623. Nonimpairment by state
17-5-1623. Nonimpairment by state. In accordance with the constitutions of the United States and the state of Montana, the state pledges that it will not in any way impair the obligations of any agreement between the board and an eligible government unit or between the board and the holders of notes and bonds issued by the board, including but not limited to an agreement to administer a loan program financed by the issuance of bonds and to employ a staff sufficient and competent for this purpose.
Terms Used In Montana Code 17-5-1623
- Board: means the board of investments created in 2-15-1808. See Montana Code 17-5-1604
- Eligible government unit: means :
(a)any municipal corporation or political subdivision of the state, including without limitation any city, town, county, school district, authority as defined in 75-6-304, or other special taxing district or assessment or service district authorized by law to borrow money;
(b)the state, any board, agency, or department of the state, or the board of regents of the Montana university system when authorized by law to borrow money; or
(c)an Indian tribal government, in accordance with 17-1-702. See Montana Code 17-5-1604
- 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
- United States: includes the District of Columbia and the territories. See Montana Code 1-1-201