Montana Code 7-7-4273. Cancellation of warrants and refunded general obligation bonds
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7-7-4273. Cancellation of warrants and refunded general obligation bonds. (1) Whenever bonds are issued for the purpose of funding outstanding warrants or refunding outstanding bonds, the city treasurer or town clerk shall, upon taking up such warrants or bonds, cancel the same, keep a record thereof, and deliver the same to the city or town clerk, with a report showing the numbers thereof and the amounts paid for principal and interest.
Terms Used In Montana Code 7-7-4273
- 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 city or town clerk shall exhibit such warrants or bonds, with such report, to the city or town council at the next regular meeting thereof.