Montana Code 85-7-1412. Joint undertakings
85-7-1412. Joint undertakings. Irrigation districts, through their respective boards of commissioners, may enter into contracts to jointly plan, acquire, construct, operate, maintain, and finance any undertaking in accordance with Title 85, chapter 7, part 16. The contract must specify, if an undertaking is financed under this part:
Terms Used In Montana Code 85-7-1412
- Contract: A legal written agreement that becomes binding when signed.
- Undertaking: means any one or a combination of the following:
(a)water sources, water rights, irrigation canals, irrigation systems, including pumping facilities or gravity measure systems, reservoirs, reservoir sites, or small power production facilities that are:
(i)certified as such by the federal energy regulatory commission; and
(ii)are associated with federal reclamation projects;
(b)any real or personal property or water rights related to or necessary to provide, operate, and maintain an undertaking listed in subsection (4)(a). See Montana Code 85-7-1402
(1)that the contract cannot be terminated prior to the redemption or cancellation of any bonds issued under it; and
(2)the manner of disposing of the undertaking upon termination of the contract.