Montana Code 7-2-4911. Certification of financial condition
7-2-4911. Certification of financial condition. (1) Upon receiving a certified copy of the order of disincorporation, the director of the department of administration shall certify a current statement of the financial condition of the disincorporating city or town to the board of county commissioners.
Terms Used In Montana Code 7-2-4911
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
(2)The statement must include but is not limited to:
(a)a determination of all assets of the city or town, including any current or delinquent utility accounts and taxes receivable; and
(b)a statement of all city or town indebtedness, including any revenue or general obligation bonds, special improvement district obligations outstanding, contracts payable, all other obligations of the city, and a schedule for the repayment of indebtedness.