Montana Code 90-7-317. Capital reserve account
90-7-317. Capital reserve account. (1) There is a capital reserve account in the enterprise fund provided for in 90-7-202(17).
Terms Used In Montana Code 90-7-317
- Authority: means the Montana facility finance authority created in 2-15-1815. See Montana Code 90-7-102
- Capital reserve account: means the account established in 90-7-317. See Montana Code 90-7-102
- Contract: A legal written agreement that becomes binding when signed.
- 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 authority shall deposit into the capital reserve account:
(a)funds from state appropriations received for deposit into the account, as provided in 90-7-319, for bonds issued to finance capital projects for community health facilities that contract with the state to provide health care services, bonds issued to finance the facilities described in 90-7-220 and 90-7-221, or bonds used to finance prerelease centers that contract with the state; and
(b)proceeds from the sale of bonds or notes to the extent provided in the resolutions or indentures of the authority authorizing their issuance.
(3)The authority may also deposit into the capital reserve account:
(a)revenue from fees and charges imposed by the authority;
(b)income from the investment of funds belonging to the authority; and
(c)any other funds that may be available to the authority for the purpose of the account from any other source, including loans authorized under 90-7-320.