Montana Code 85-7-1418. Authorization for undertaking and issuance of bonds
85-7-1418. Authorization for undertaking and issuance of bonds. (1) The acquisition, construction, or improvement of any undertaking may be authorized under this part.
Terms Used In Montana Code 85-7-1418
- Issuer: means the board of commissioners of an irrigation district or a board of control created pursuant to Title 85, chapter 7, part 16. See Montana Code 85-7-1402
- 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
(2)Bonds may be authorized to be issued under this part by resolution of the governing body of the issuer without an election.