Montana Code 90-7-213. Loan limitation
90-7-213. Loan limitation. A loan made by the authority may not exceed the total cost of the eligible facility being financed as the cost is determined by the participating institution and approved by the authority.
Terms Used In Montana Code 90-7-213
- 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