Montana Code 7-7-2311. Issuance of refunding general obligation bonds without election
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7-7-2311. Issuance of refunding general obligation bonds without election. Bonds may be issued without submitting the same to an election if the bonds are issued for the purpose of:
Terms Used In Montana Code 7-7-2311
- 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.
(1)refunding, paying, and redeeming optional, redeemable, or maturing bonds as set forth in 7-7-2301(1); and
(2)refunding any bonds for which the holders have agreed to accept less than the full amount of principal and interest in full payment and satisfaction as set forth in 7-7-2301(2).