Montana Code 90-4-611. Authority to issue energy conservation program bonds
90-4-611. Authority to issue energy conservation program bonds. (1) When authorized by the vote of two-thirds of the members of each house of the legislature, at the request of the department, and pursuant to this part, the board may issue and sell bonds or bond anticipation notes of the state in a manner it considers necessary and proper to finance the energy conservation program and to pay costs associated with the sale and issuance of the bonds. Bonds may be issued to provide funds for the payment or redemption of energy conservation building program bonds issued under this section.
Terms Used In Montana Code 90-4-611
- Board: means the board of examiners provided for in 2-15-1007. See Montana Code 90-4-602
- Department: means the department of environmental quality provided for in 2-15-3501. See Montana Code 90-4-602
- Energy conservation program: means a program for the financing, acquisition, construction, and installation of alternative energy systems, as defined in 15-32-102, or equipment, systems, and improvements in state-owned buildings, structures, and facilities that save energy or water. See Montana Code 90-4-602
- Energy conservation program bonds: includes all series of bonds issued to finance any portion of the energy conservation program. See Montana Code 90-4-602
- 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
(2)The full faith and credit and taxing powers of the state are pledged for the prompt and full payment of all bonds so issued and interest and redemption premiums payable on the bonds according to their terms.