Montana Code 75-10-625. Authorization for sale of CERCLA bonds
75-10-625. Authorization for sale of CERCLA bonds. The board of examiners is authorized to issue and sell CERCLA general obligation bonds in an amount not exceeding $10 million upon the request of the department of environmental quality, as provided for in 75-10-623. Proceeds of the bonds or notes must be deposited in the hazardous waste/CERCLA special revenue account provided for in 75-10-621 to fund state participation in remedial action under section 104 of CERCLA, as amended, state costs for maintenance of sites at which remedial action under CERCLA has been completed, the state share required to obtain matching federal funds for underground storage tank corrective action, and costs of issuance of the bonds or notes.
Terms Used In Montana Code 75-10-625
- CERCLA: means the federal Comprehensive Environmental Response, Compensation, and Liability Act of 1980, Public Law 96-510. See Montana Code 75-10-602
- Department: means the department of environmental quality provided for in 2-15-3501. See Montana Code 75-10-602
- 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.
- Remedial action: means those actions consistent with a permanent remedy taken instead of or in addition to removal actions in the event of a release or threatened release of a hazardous substance into the environment that prevent or minimize the release of hazardous substances so that they do not migrate to cause substantial danger to the present or future public health or welfare or the environment. See Montana Code 75-10-602
- 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