Montana Code 90-7-204. Agent of the authority
90-7-204. Agent of the authority. The authority may designate a participating institution as its agent for determining the location and character of an eligible facility undertaken by that institution under the provisions of this chapter. As agent, the institution may acquire, construct, reconstruct, renovate, replace, improve, maintain, repair, operate, lease, as lessee or lessor, and enter into contracts for any and all such purposes, including contracts for the management and operation of the facility.
Terms Used In Montana Code 90-7-204
- Authority: means the Montana facility finance authority created in 2-15-1815. See Montana Code 90-7-102
- Eligible facility: means any eligible facility as defined in 90-7-104. See Montana Code 90-7-102
- Institution: means any public or private:
(i)nonprofit hospital, corporation, or other organization authorized to provide or operate an eligible facility in this state;
(ii)nonprofit prerelease center, corporation, or other organization authorized to operate a prerelease center in this state; or
(iii)for-profit or nonprofit corporation or other organization authorized to provide for or to operate a project or a facility with qualified small issue bond financing pursuant to section 144(a) of the Internal Revenue Code, 26 U. See Montana Code 90-7-102
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC